Grand Pacaraima Gold Corporation Announces Signing of Contract and Participation Funding of Projects Through a Newly Formed Inve
November 29 2010 - 1:20AM
Marketwired
Grand Pacaraima Gold Corporation (PINKSHEETS: GPGD) announced today
that Jasmine Eka Kayra, Inc. has signed a 99 year lease contract
with the Soares-Pereira Family of Dili, Timor Leste. This
99 year lease was signed on 50,450 square
meters of beach front property. The contract for development and
construction will be handled by Petroleste Ventures, LDA. The
contract shall include the construction of a hotel with 240
standard rooms, 24 suites, 4 presidential suites and 6 cabanas. The
development will have a
wellness care
facility to assist local citizens in health and sanitation.
Project financing will be through the newly created Jasmine Eka Karya Financial Investment Group -- Turks
and Caicos with a subsidiary office in Panama City, Panama.
Mr. Yupi Haryanto is chief
executive officer. Mr. Haryanto, Jasmine Eka Karya, Inc. and
its affilated companies will finance their projects in Mexico, The
U.S., Timor Leste and in other areas.
The construction of the hotel shall require a 4 lane access
bridge to replace the connecting road. Timor Leste Government
Public Works approval is pending final bridge specifications. Total
contracts will exceed USD $128,000,000.00.
Construction should begin in March, 2011 and be completed by
April, 2012.
David Nolan, President of Jasmine EKA Karya Inc., said the
signing of the lease contract with Mr. Francisco Soares Pereira and
the funding of the projects were the results of months of
negotiating with the local officials of Timor and the Banking
Entities furnishing the financing.
About Petroleste Ventures, LDA Petroleste was organized under
the laws of Timor Leste, (formerly East Timor) with its ownership
including local Timor Partners under the guidance of Mssr. Blausius Pereira, Ermenegildo Lopes and Francisco
Guterres. Jasmine Eka Karya Inc. owns controlling interest in
Petroleste Ventures, LDA and is a wholly owned subsidiary of GPGD.
The Company's main interest is in import and export of commodities
to include oil and refined petrochemical products, energy
infrastructure within the Country of Timor Leste, related to ports,
refineries, oil and gas terminals and other infrastructure projects
to improve the Country's transportation, natural and human resource
needs.
About Grand Pacaraima Gold Corp. (GPGD) -- www.GPGD.PK The
Company and Management's new emphasis is on energy projects,
mergers and acquisitions related to the energy industry.
Forward-Looking Statements: Certain statements contained in this
press release are forward-looking statements that involve risks and
uncertainties. The statements contained herein that are not purely
historical are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended.
First Bitcoin Capital (PK) (USOTC:BITCF)
Historical Stock Chart
From Mar 2024 to Apr 2024
First Bitcoin Capital (PK) (USOTC:BITCF)
Historical Stock Chart
From Apr 2023 to Apr 2024