FREDERICKTOWN, MO and MONTREAL, Canada, Feb. 19, 2013 /PRNewswire/ - ICBS announced today that it has completed the merger of its subsidiary Canwealth Minerals Corporation into the public shell formerly named USG1, Inc. and Canwealth Minerals is now a fully reporting company under the Securities Exchange Act of 1934. Details on the merger and on Canwealth Minerals can be found in the Form 8-K filed by Canwealth Minerals with the Securities and Exchange Commission.
Garth McIntosh, the CEO of ICBS and Canwealth Minerals, said, "We are pleased that Canwealth Minerals is now a reporting US company. We look forward to the future trading of the stock of Canwealth Minerals once a public market is established."
ICBS Ltd. currently owns 87.5% of Canwealth Minerals Canada. Once the merger is completed, ICBS will own 60.90% of the newly formed company.
Garth McIntosh, CEO of ICBS: "Canwealth has an enormous future, and we are excited about the company's future in the mining industry."
About Canwealth Minerals:
Canwealth Minerals Corporation - is a mineral exploration and mining company actively searching for gold, silver, PGE, base metal and REE mineral deposits in Quebec. At the present time the company holds 9 Mining properties (268 Claim cells) in Northern Quebec's Abitibi region and the James Bay basin including addition exploration of South Western Quebec for a total of 38,573 acres under management.
Legal Notice Regarding Forward-Looking Statements:
Safe Harbor: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. Information concerning the merger of Canwealth Minerals Corporation and USG1, Inc. can be found in the Form 8-K filed with the Securities and Exchange Commission. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Canwealth Minerals Corporation to be materially different from the statements made herein.
SOURCE Inter Canadian Business Service