SCOTTSDALE, Arizona, May 27, 2015 /PRNewswire/ -- Intertech Solutions Inc. (OTC: ITEC) ("Intertech Solutions Inc.," "ITEC" or the "Company") today wishes to update shareholders as to corporate developments and ongoing status of the permitting for the WPE Gold Project.
Management has elected to cancel a total of 60,000,000 shares which will improve our capital structure and value to shareholders. This event is reflected as part of our up to date filings with OTC Markets. ITEC's year-end is February 28th and we have now filed the requisite filings as well as additionally filed ahead of time our legal opinion letter, which was not due until June 30th. Management is committed to keeping our filings up to date and on time such that shareholders may review.
We continue to make good progress with permit approval process being undertaken by West Port Gold with the Bureau of land Management (B.L.M.) at the WPE Gold Project near Quartzite Arizona.
Our Mine Plan of Operation (M.P.O.) on WPE Gold Project is now in the final approval process with the B.L.M. and West Port Gold has informed the Company that all current B.L.M. information requests have been, or are being addressed. West Port is confident that we will be informed by the B.L.M. shortly as to the approximate date our M.P.O. will be issued and or what additional information must be supplied.
The Company has also initiated and is near completion of a third-party, arm's length engineering and assessment report which is reviewing and commenting on the Company's findings on the WPE Project. The summary and conclusions of this report will be made available once received by the Company.
About Intertech Solutions Inc. (OTCPK: ITEC)
Intertech Solutions is a fully integrated, gold project finance, management and services consulting Company that provides development capital, engineering, project supervision and technical management to gold projects. The Company operates from its offices in Scottsdale, Arizona. Visit us at:www.itecgold.com
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, scope and type of consulting services provided by ITEC, use of proceeds, future acquisitions, success of projects, growth and strategic plans. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
Intertech Solutions Inc.
To find out more about Intertech Solutions Inc. (OTCPK: ITEC), visit our website at www.itecgold.com
SOURCE Intertech Solutions Inc.