Eastern Washington Mine Receives New Equipment
CGrowth Capital, Inc. (OTCPINK:CGRA) is pleased to announce that it has completed the purchase and acquisition of its first two major pieces of equipment, a CEC Impact Plant and a CEC Screen Plant along with miscellaneous related equipment.
These two major components are vital to the Company’s operation concerning the processing of raw ore into concentrates. CGrowth Capital was able to negotiate favorable terms on the above mentioned acquisition. The total asset value of the purchase of $380,000 was paid for with a cash deposit of $10,000, 15,000 shares of restricted Series A preferred stock, and a note in the amount of approximately $220,000. The note carries an interest rate of 6.33%.
“We are excited about our strategic equipment purchases,” said Bill Wright, CEO of CGrowth Capital, Inc. “This equipment represents anchor pieces in our initial processing activities. As was presented in my January letter to shareholders, CGrowth Capital is working to increase its asset base, generate revenue, and begin execution of its joint venture agreement to remove and process up to 170,000 tons of surface head ore from our partner mine in Eastern Washington. The newly acquired equipment positions us to start towards production in 2013.”
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. serves as a holding company for businesses and assets focused on all aspects of mining. The processing of metal ore mining is a multi-billion dollar market opportunity which is capitalized through processing, sales, contracting and licensing of assets. CGrowth Capital’s services and solutions are designed to assist land owners with monetizing undervalued assets by bringing commodities such as gold and silver to market. CGrowth Capital will focus on acquiring or “claiming” land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of mining operations.
Visit the corporate site at: CGrowthCapital.com
For more information: prnewswire.com/cgrowth-capital-inc-announces-the-purchase-of-equipment
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