|By PR Newswire||
|August 19, 2014 11:20 AM EDT||
LAS VEGAS, Aug. 19, 2014 /PRNewswire/ -- Amarium Technologies, Inc. (PINKSHEETS: AMMG), through it's wholly owned subsidiary Amarium Minerals Inc., has secured a US $3.15 Million financing with Anglo Asia Resource Partners. Repayment of this financing will be in the form of a revenue streaming agreement with Anglo Asia receiving 75% of all net revenue until payback and 22% of all net revenue in perpetuity. The previous sales contract with Anglo Asia receiving 18% of all production at a discounted price of $0.75 USD per pound will remain in effect along with this new streaming agreement.
"Anglo Asia has been a key partner and a major factor in the Company's ability to execute our strategic goals. We are very pleased that Anglo Asia has entered into this new revenue streaming agreement to become a major stakeholder of the Company and give us the ability to expand our growth opportunities going forward," said Adam Carter, the President and CEO of Amarium Minerals. "Anglo Asia provides Amarium with solid financial backing and the foundation required to continue building out the Company's mission of becoming a mid-tier copper producer within Latin America. Amarium is committed to adding the necessary elements to the Company to take it to the next level in the near term."
Anglo Asia Resource Partners is a private Hong Kong partnership that is focused on procuring precious metals for the Asian market's manufacturing and industrial supply chain.
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 cash flow opportunities.
For additional information, please visit: http://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.
Amarium Technologies Inc.
Investor Relations, 800-611-6584
SOURCE Amarium Technologies Inc.
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