SAN FRANCISCO, Dec. 19, 2013 /PRNewswire/ -- Paradigm Resource Management Corporation (OCTQB: PRDC) ("Paradigm Resource") today announced that TOSS Plasma Technologies Limited ("TPT"), a Paradigm Resources investment portfolio company, has signed a Memorandum of Understanding ("MOU") with Harvests Holdings Co., Limited ("HHL"), a Taiwanese investment firm funded by a NYSE-listed technology company, on the supply of Radio Frequency Plasma systems for the extraction of precious metals in complex ores owned by HHL.
Paradigm Resource CEO, Ted Ozaki, said of the deal, "After announcing our latest assay results dated November 11, 2013, from our Myanmar samples which produced an astonishing 1,500% more yield versus traditional methods, (495 grams per metric ton versus 34 grams per metric ton of gold, pre plasma application), we have been approached by other mining companies in the industry wanting to learn more about our Toss Plasma technology."
"This MOU was the culmination of intensive discussions between the two sides to pursue and structure a strategic business relationship with specific objectives and milestones in the short, medium and long term," said TPT Chairman Sam Shao.
Shao added, "There are four (4) phases to our business relationship with HHL, signifying an increasing level of cooperation and financial commitment by HHL. The four phases are:
- Ore sample plasma processing and assay,
- Value-added plasma processing of ore concentrates for a 3-month period
- Turnkey plant sales and installations (2 locations)
- Equity investment in TPT in the form of stock purchase
The total all-inclusive price for the two (2) RF Plasma turnkey plants shall be of approximately US$15,000,000."
HHL is based in Taipei (Taiwan) with a portfolio of precious metal complex ores under its control and management. HHL is funded by the investment arm of a multi-national NYSE-listed technology company, for which details shall be disclosed upon the execution of a final and definitive agreement for the turnkey plant sales at the end of phase two.
About Paradigm Resource Management Corporation
Paradigm Resource Management Corporation is a publicly traded U.S. mining and natural resource management company headquartered at San Francisco Bay Area in California. The Company is currently pursuing opportunities for acquisition targets in mining and natural resources with a focus on new technology and applied materials. Paradigm Resource's commitment to asset growth and increased shareholder value will be sustained by the development of highly prospective projects and acquisition of viable resources.
About Toss Plasma Technologies Ltd.
TPT developed a breakthrough technology and processing system, using ultra-temperature radio frequency plasma torch, to extract latent precious metals from certain types of complex ores. For further information, please go to http://www.tossplasma.com.
Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on Paradigm Resource Management Corporation predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, changes in metal prices, the ability to successfully fund any exploration activities, consumer and business consumption habits, the ability to fund operations and other factors over which Paradigm Resource Management Corporation has little or no control. Such forward-looking statements are made only as of the date of this release, and Paradigm Resource Management Corporation assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in Paradigm Resource Management Corporation Form 10-K for its fiscal year ended September 30, and other documents filed from time to time by Paradigm Resource Management Corporation with the Securities and Exchange Commission.
Tony Heo, Vice President - Business Development
SOURCE Paradigm Resource Management Corporation