LAS VEGAS, June 5, 2013 /PRNewswire/ -- Amarium
Technologies Inc. (PINKSHEETS: AMMG), through its wholly owned
subsidiary Amarium Minerals Inc., released today that the Company
has executed a Copper Stream Sale Agreement ("Agreement") with
Anglo-Asia Resource Partners ("Anglo-Asia") for US$8.75
million. Under the terms of the Agreement,
Anglo-Asia is entitled to 18% of
the copper concentrate produced at the Jovita Mill operating in
Michoacan, Mexico. Amarium will
allocate the sale proceeds from the Agreement to complete the
financial obligations outstanding from the Jovita Mine acquisition
and the remaining funds will be expended on upgrades and expansion
of the existing flotation mill and facilities.
The Agreement entitles Anglo-Asia, a private Hong
Kong partnership that is focused on procuring precious and
base metals for the Asian market, to 18% of the monthly production
at the Jovita Mill. Anglo-Asia will make an initial payment
of US$8.75 million to Amarium and
on-going payments of US$0.75 per
pound of copper produced. If the spot price of copper was to
decline below US$2.50 per pound,
Anglo-Asia's on-going payment
obligations would be reduced to US$0.50 per pound of copper. Additional
terms of the Agreement will be released at a later date.
Adam Carter, President & CEO of
Amarium , commented, "The non-dilutive agreement with
Anglo-Asia will allow Amarium to
rapidly expand its existing production facilities at Jovita and
engage in an exploration program on the property that defines our
high-grade copper resource. Anglo-Asia is the perfect partner
for us to advance our business plans, as they are extensively
integrated in the Mainland China and Southeast Asia metals markets. Our
primary goal now is to maximize throughput at the Jovita Mill and,
with the capital investment now in place, we can proceed
expeditiously with upgrading our existing facility."
Amarium is focused on the acquisition and development of base
metals projects in Mexico that are
currently in or near production and advanced exploration properties
that will add substantially to the Company's asset foundation.
Management is continuing to actively pursue mineral interests that
represent significant growth, value and cashflow opportunities.
For additional information, please visit:
www.amariumminerals.com
This press release contains statements that are forward-looking
and which involve a number of risks and uncertainties. Such
forward-looking statements are within the meaning of that term in
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements in question are based on Amarium
Technologies, Inc.'s current expectations and projections about
future events, based on information currently available. The
forward-looking statements found in this press release may also
include statements relating to Amarium Technologies, Inc.'s
anticipated financial performance, business prospects, new
developments, strategies, and similar matters. Amarium
Technologies, Inc. provides no assurance regarding the actual
outcome of the events contemplated by any forward-looking
statements included in this release. Amarium Technologies, Inc.
disclaims any obligation to update any of its forward-looking
statements, except as may be required by law.
CONTACT:
Investor Relations
Tel: 800-983-0814
Fax: 800-291-6802
E-mail: info@amariumminerals.com
SOURCE Amarium Technologies Inc.