SILVERDALE, Wash., March 11, 2013 /PRNewswire/ -- CGrowth
Capital, Inc. (OTCPK: CGRA) today announced that it has updated its
joint venture agreement with Cedar Canyon Mining Corp which
resulted in the execution of an agreement between the parties. The
agreement calls for operations to begin to process and ship
approximately 170,000 tons of ore material.
Cedar Canyon Mining Corp will process ore bodies from mining
claims in Eastern Washington State. CGrowth Capital owns the
rights to the mining claims, and all permits necessary are already
in place to precipitate the excavating and processing of
ore. The ore will be efficiently prepared for shipping to a
smelting facility. The area of the mine site where initial
operations will begin is well known for its natural resources and
historical operations.
Early test reports on the property in Eastern Washington State indicate that gold,
silver, and other high value metals are present. It is estimated
that approximately 500,000 tons of surface ore materials are
available for removal and processing in the immediate area, in
addition to the subterranean material that the company plans to
excavate and process in the future.
Bill Wright, CEO of CGrowth
Capital, Inc. said, "There are a lot of moving parts to developing
and processing a mine site. We have spent a great deal of time
putting all the pieces in place and are excited about starting
production. Our immediate goals include increasing the physical
assets on our balance sheet to include land, equipment, and
reserves. Our management team and stakeholders are excited about
the generation of quick revenues and cash-flow from the surface ore
as well as the long-term potential of the Eastern Washington mining claims and our
partnership with Cedar Canyon Mining."
Mr. Wright continued, "A majority of the equipment needed for
the processing is already in place with additional equipment to be
acquired shortly. As operations progress we will seek to add
the required staffing and additional equipment as production
dictates."
CGrowth Capital is also giving away silver! In recent
months, the Company has been announcing an upcoming drawing for a
free ounce of silver to a person each quarter that has registered
on the website to become part of the Company's mailing
list. The first give away is to take place on March 31, 2013. Hurry up and register under
the Investor section of the Company's web site,
http://www.CGrowthCapital.com, for a chance to win!
Visit CGrowth Capital, Inc. at http://www.CGrowthCapital.com
Visit Cedar Canyon Mining Corp. at
http://www.CedarCanyonMining.com
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.
Investor Inquiries:
CGrowth Capital, Inc.
888-218-2472
Safe Harbor
Statements about the Company's future expectations and all other
statements in this press release other than historical facts, are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such
forward-looking statements be subject to the safe harbors created
thereby. The above information contains information relating to the
Company that is based on the beliefs of the Company and/or its
management as well as assumptions made by and information currently
available to the Company or its management. When used in this
document, the words "anticipate," "estimate," "expect," "intend,"
"plans," "projects," and similar expressions, as they relate to the
Company or its management, are intended to identify forward-looking
statements. Such statements reflect the current view of the Company
regarding future events and are subject to certain risks,
uncertainties and assumptions, including the risks and
uncertainties noted. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
to be incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of the accompanying
meaningful cautionary statements herein. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services
and pricing and general economic risks and uncertainties. The
Company disclaims any obligation to update or revise any
forward-looking statements.
SOURCE CGrowth Capital, Inc.