SILVERDALE, Wash., Jan. 3, 2013 /PRNewswire/ -- CGrowth Capital, Inc. (Pink Sheets : CGRA ) (the "Company"), Bill Wright, CEO is pleased to address all current and possible future shareholders of the Company.
I would like to take this time to present the Company's goals and objectives for 2013.
The Board of Directors of the Company is currently engaged in talks with several potential candidates to join the Board. These candidates bring with them decades of mining and business experience. Updates and additions will be announced in the coming months.
Shareholder value will be the key element in our decision making process. Therefore in 2013 the Company will be implementing a stock retirement and lockup plan with the goal of reducing our outstanding shares and reducing our float. The details of such will be announced once the plan has been formulated and approved by the Board of Directors.
CGrowth Capital is always looking for ways to maximize revenues while reducing expenditures, such as our outsourcing of operations to Cedar Canyon Mining Corp. This model of operation will continue in 2013, as the company is in negotiations for additional joint ventures. The results of these negotiations will be announced as they are completed.
Moving forward, we will begin the necessary steps to substantiate our asset base to SEC standards utilizing industry recognized third party reports. This will enable us to increase the assets on our balance sheet and begin providing future projections based on these reports. In the meantime, we will begin execution of our joint venture agreement with MRJ Resources, which allows us to remove and process up to 170,000 tons of surface head ore from our partner mine in Eastern Washington. Preliminary third party assay reports on samples of this material have shown an average of 24 ounces of silver and 0.5 ounces of gold per ton of raw ore. Assuming these assays are representative of the whole, the recovery rate looks very promising.
As the company begins to realize revenues from our current operations, we will act in a manner abiding by our fiduciary responsibilities. Whether it is regarding the acquisition of additional operations, new mine leases, land purchases or the procurement of equipment, we will always seek ways to protect shareholder value.
The company has set its sights on up listing to a higher OTC market level as our operations permit. We will also seek the benefits of dual listing on exchanges more suited to mining operations. It is our hopes that we will be able to begin this process during the 4th quarter of 2013, once our other endeavors have been successfully initiated.
In closing, let me thank you, our shareholders, and assure you that 2013 is going to be an exciting year for CGrowth Capital.
Bill Wright, CEO
For more information about CGrowth Capital, visit their website: http://www.CGrowthCapital.com
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. serves as a holding company for businesses and assets focused on all aspects of mining. The processing of metal ore mining is a multi-billion dollar market opportunity which is capitalized through processing, sales, contracting and licensing of assets. CGrowth Capital's services and solutions are designed to assist land owners with monetizing undervalued assets by bringing commodities such as gold and silver to market. CGrowth Capital will focus on acquiring or "claiming" land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of mining operations.
CGrowth Capital, Inc.
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.
SOURCE CGrowth Capital, Inc.