B2Digital (BTDG.PK) and Buyer Group International, Inc. (BYRG.PK) to Disclose Letter of Intent for Joint Venture on Feldspath...
April 02 2013 - 2:03PM
OTC Markets
Joint
Venture Participation Letter of Intent reached between BTDG, BYRG
and Voth
International, Inc.
B2Digital, Inc. (BTDG) and Buyer Group International,
Inc.(BYRG) have signed a Letter of Intent aimed at raising $120
million in debt
round financing utilizing the past producing Aramco Land and
Minerals Inc.
claims operation west of Phoenix, Arizona as collateral for
funding
the venture. The venture seeks to confirm and prove up an
estimated 600
million tons pertaining to the groups 147 claims on roughly 2,940
acres.
Participation interests include 50% for BTDG, 25% for
BYRG, and 25% for Voth International, Inc. BTDG will provide
the property
including full access along with potential sales exits, and BYRG
joins effort
in procuring private equity and raising debt financing and managing
creative
content, and finally Voth International, Inc. for procurement of
cash backed
assets pending confirmation at the third party facilitators bank,
who familiar
with the deal has documented to BYRG a similar transaction at a top
six US
financial institution. BYRG issued $1 million in equity along
with
private partners totaling $5 million in common shares of BYRG to be
contributed
pending confirmation and disclosure of initial availability of cash
funds as
provided by a US bank on behalf of the Joint Venture due within the
next 30-45
days.
BYRG has executed loan documents and is awaiting
confirmation of the cash backed assets to be sent to the financing
group. Upon
confirmation the financing group will establish a draw down
schedule for
funding BYRG to invest to the Fedlspath/Feldspar project.
Initial funding is
anticipated to be finalized within 7-10 days of confirmation of the
funds
available against the cash backed assets. Upon funding, a
full report
analysis per Guide 7 and National Instruments 43-101 based upon
previous
testing and production is complete the property will serve as a
basis for
procurement additional private capital and possible
re-financing. Past
production on the property included sales in the Arizona and
Southern California
construction and recreational markets through big-box construction
retailers
which curtailed with the housing bubble collapse. Future
anticipated
outlets will include regional uses such as the USGA golf course
augmentation
and coastal beach restoration around the United States, as well as
potential
off-taker contracts with interest indicated out of China, Shanghai
region, in
bulk for final use in stucco, mortar, and other specialized
construction
applications locally and abroad.
*Regional
Feldspathic/Silica deposits are situated within The Buckeye Pluton.
The Buckeye Pluton is generally considered to
be a fine to medium grained peraluminous two-mica granite. The
deposit is
composed of a medium to coarse-grained porphyritic granite and is a
distinct
unit located within the south central region of the Buckeye
Pluton. The highly unique nature of the
coarse-grained mineralogy of the deposit has significant economic
benefits that
will allow ALMI to produce desirable products at a premium price in
the market place
relative to other sand products (either natural river-bottom sand
or crushed
granite sand). *Source - Feldspathic/silica deposit brochure ARAMCO
LAND AND
MINERAL, INC.
It
is important to note that BYRG has a minority interest in proposed
project and is
providing information as represented to BYRG. See BYRG public
disclosure
for full details. Completion of the proposed transactions and
development of
this property are dependent upon many important contingencies,
including BYRG
obtaining financing and guarantees, of which there is no
assurance.
Safe
Harbor Statement
Information
in this news release may contain statements about future
expectations, plans,
prospects or performance of Buyer Group International, Inc. that
constitute
forward-looking statements for purposes of the Safe Harbor
Provisions under the
Private Securities Litigation Reform Act of 1995. The words or
phrases
"can be", "expects", "may affect",
"believed", "estimate", "project" and similar
words and phrases are intended to identify such forward-looking
statements.
Buyer Group International, Inc. cautions you that any
forward-looking
information provided by or on behalf of Buyer Group International,
Inc. is not
a guarantee of future performance. Completion of the transaction is
dependent upon
important contingencies, including completion of financing, of
which there is
no assurance. None of the information in this press release
constitutes
or is intended as an offer to sell securities or investment advice
of any kind.
Buyer Group International, Inc.'s actual results may differ
materially from
those anticipated in such forward-looking statements as a result of
various
important factors, some of which are beyond Buyer Group
International, Inc.'s
control. In addition to those discussed in Buyer Group
International, Inc.'s
press releases, public filings, and statements by Buyer Group
International,
Inc.'s management, including, but not limited to, Buyer Group
International,
Inc.'s estimate of the sufficiency of its existing capital
resources, Buyer
Group International, Inc.'s ability to raise additional capital to
fund future
operations, Buyer Group International, Inc.'s ability to repay its
existing
indebtedness, the uncertainties involved in estimating market
opportunities,
and in identifying contracts which match Buyer Group International,
Inc.'s
capability to be awarded contracts. All such forward-looking
statements are
current only as of the date on which such statements were made.
Buyer Group
International, Inc. does not undertake any obligation to
publicly update
any forward-looking statement to reflect events or circumstances
after the date
on which any such statement is made or to reflect the occurrence
of
unanticipated events.
BYRG
Company
website: www.byrg.org
BTDG Company website:
www.b2digital.us
Both companies disclosures statements are found at
www.Otcmarkets.com
Investor Relations Contact: Inter Global Investments LLC
214-810-1317
ir@byrg.org
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