EyeCity.com, Inc. ("ICTYGroup") Would Like to Update the Shareholders on the Progress of Negotiations With Its Gold Mining Me...
February 21 2012 - 2:19PM
EyeCity.com, Inc. (Pink Sheets:ICTY) announced today the following
update to shareholders on the company's direction in 2012. As
previously stated EyeCity.com, Inc. has been seeking a suitable
merger candidate with a primary focus on natural resource and
junior mining companies.
As previously reported ICTY is in late stage negotiations with
two independent mining companies, both with significant mineral
reserves. The two mining operations are geographically diverse, one
located in Mexico and the other in West Africa. The two mining
operations are both focused on gold. Given the strong global demand
for base and precious metals many forecast that gold prices will
continue to trend higher. These mining operations were targeted
based upon reported resources and long term growth of assets.
Mr. Bradley R Wilson commented, "As part of the ongoing due
diligence, ICTY has engaged an independent geology specialist to
review the mining reports and assets on each project for ore
deposits with a specific focus on gold resources.
"The planned structure with the two companies is an exchange of
assets/share structure for the merger. The consensus of all parties
in the negotiations is to do the exchange with a preferred series
of stock in ICTY.
"The objective of the preferred series is to protect existing
shareholders and avoid dilution of common stock. As previously
stated in an earlier press release, the Company is bound by a
non-disclosure agreement and until such time as a signed contract
and compliance with all appropriate regulations is completed, we
cannot expand on specifics of the negotiations. Immediately upon
the signed execution of an Agreement, and compliance with all
appropriate regulatory authorities transparent details of the
transaction will be released for all shareholders and interested
parties."
The Company cautions all shareholders that non-verifiable rumors
are not credible. The only credible information is as officially
presented as fact by EyeCity.com, Inc. management.
Kindest Regards,
Bradley R Wilson
Investor Relations: 678.772.1148
Safe Harbor Statement: This news release includes
forward-looking statements pertaining to future anticipated
projected plans, performance and developments, intended to qualify
for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. Any statements on this
news release that are not statements of historical fact should be
considered forward-looking statements. These forward-looking
statements generally can be identified by phrases such as
"believes," "expects," "anticipates," "foresees," "forecasts,"
"estimates," "intends," or other words or phrases of similar
import. Similarly, statements in this news release that describe
the Company's business strategy, outlook, objectives, plans,
intentions or goals also are forward-looking statements. All such
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those in forward-looking statements.
CONTACT: Bradley R Wilson
Investor Relations:
678.772.1148
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