NEW YORK, Nov. 13, 2012 /PRNewswire/ -- Micron Enviro Systems, Inc. (MSVS), an emerging mining company, announced today that in an attempt to build value for its shareholders, management has executed a formal agreement to merge with UK based Britannia Mining.
"Merging Micron with an international company that has the global reach, size and potential wealth that Britannia offers, should finally afford Micron shareholders the type of confidence and value committed investors deserve," stated Bradley Rudman, former President of Micron Enviro Systems.
Kenneth Roberts, a founding director of Britannia Mining, with over 30 years in mining, commodities and logistics, will succeed Rudman as President and CEO of Micron. With him [Roberts] will arrive a team of well seasoned mining executives, consultants, service firms, partners and international investors. Mr. Rudman has resigned from his executive post as CEO, Secretary, and member of the Board of Directors. Although Rudman will no longer carry a chief executive position, he will continue with the company in a capacity suitable to allow his assistance with managing the new North American Offices of Britannia Mining; particularly where it concerns the endeavors relating to the Yukon.
People close to the company believe that Micron – or the new rendition of the mining firm – will undergo a positive and major cultural shift in corporate management under the direction of a leader like Roberts. Having focused on the development of mining and energy ventures in Africa (where subsidiary, Britannia Mining Malawi operates), over the past 10 years Mr. Roberts has secured a number of Directorships in mining and commodities, and brings a very progressive thinking to the development of an international mining outfit.
"It's been a long but exciting 14 weeks negotiating this merger," stated Kenneth Roberts, newly appointed CEO of Micron Enviro Systems. "Brad Rudman worked diligently to ensure that the shareholders of Micron benefited from this transaction. It is that kind of commitment, a dedication to not solely seek profit for Britannia, but to deliver tangible results to our investors that will inspire long-term shareholder confidence and value."
Robert's continued, "At Britannia, we've expanded the rights of our iron ore project in Nthale Hill from 20 sq km to approximately 650 sq km. The surface ore on just the 20 sq km alone is estimated at 4.6 million tons with a potential gross market value circa $500-$700 Million. We have already demonstrated our competency to the investors who supported us and our subsidiary as a private venture. Now, with the support of our new shareholders, we will seek to continue on the path of efficacy, focusing on exponential financial growth."
Micron and Britannia Mining have executed an Agreement and Plan of Merger which management intends to have ratified no later than December 21st, 2012. This will officialize the process; allowing Mr. Roberts and the Britannia team the ability to strategize formal name change, PACOB audits, asset transfer and the financial positioning of the new firm.
Mr. Robert's concluded, "We are very confident that our current investors and new shareholders will be very pleased with what Micron will evolve into over the next four months."
About Britannia Mining
Britannia Mining is an explorer and developer of mining projects. The company is developing a high grade iron ore project in Malawi and holds an Exclusive Prospecting License (EPL) for iron ore over 650 sq km at Nthale, Blantyre. From magnetic imaging studies that have been completed over a test area of 20 sq km, the company has located a number of ore bodies that indicate this 20 sq km area could yield upwards of 40 million tonnes iron ore. The company intends to mobilize a drilling program, where upon completion the data will provide a resource definition of the 20 sq km test area.
Britannia Mining is in talks with a number of potential partners to implement a near term mining plan at Nthale Hill.
About Micron Enviro Systems
Micron is an emerging mining company that plans on pursuing opportunities that will enhance shareholder value. Please visit Micron's website for more information of the locations of Micron's prospects at www.micronenviro.com.
If you have any questions, please call Micron at (646) 580-1153. If you would like to be added to Micron's update email list, please send an email to email@example.com requesting to be added.
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SOURCE Micron Enviro Systems, Inc.