S2C Global Announces Acquisition of San Cristobal Iron Ore Mine in Mexico
February 10 2014 - 9:41AM
PR Newswire (US)
S2C Global Systems, Inc. and its wholly
owned subsidiary S2C Global Resources (OTC: STWG) ("the "Company")
are pleased to announce the signing of an agreement to acquire 100%
ownership of the San Cristobal Mine from Mineria Coliman S.A.
The San Cristobal is a producing iron ore mine, located in
the Mexican state of Michoacán, and is situated with strategic
access to the Port of Lazaro Cardenas.
The Agreement calls for an initial
payment of US$750,000, with an
additional US$750,000 committed for
new investment into the property over the next 12 months.
Additional payments totaling US$4million over the next 48 months will be made
by S2C Global to Mineria Coliman S.A. to complete the terms of the
agreement.
Daniel
Roth, S2C Global's President, commented that the
completion of the San Cristobal acquisition is
a milestone for shareholders of the Company, and management can now
move forward rapidly with plans to bring the mine into full scale
production. Also, additional details of the transaction, the mine's
resource potential, daily throughput capacity and a timeline for
the plan of operations will be released shortly.
S2C Global Resources recently announced
the company had completed a US$1.8
million debt financing agreement with Aqua Segel Financial
Group Inc., a Zurich based investment firm
that provides financing solutions to emerging resource companies
primarily operating in Latin and South America.
For further information regarding S2C
Global (STWG) visit our website
at: http://www.s2cglobalresources.com or contact
us at (480) 305-2047
About the Company:
S2C Global Resources (STWG) is in the business of extracting
both base and precious metals from known resource deposits
primarily in the ore rich regions of Mexico. STWG is able to
provide the technical expertise, knowledge of the local business
environment and funding required for bringing existing
undercapitalized small-scale mining operations into full production
utilizing economies of scale to provide maximum return to our
shareholders.
Safe Harbor Statement
This press release may contain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Any statements that are not statements of
historical fact (including but not limited to statements containing
the words "will," "believes," "plans," "anticipates," "expects,"
"look forward," "estimates" and similar expressions) should be
considered to be forward-looking statements and the safe harbor
provisions of said Act do not apply to an issuer that issues penny
stock. Actual results may differ materially from those
indicated by such forward- looking statements as a result of
various important factors including, among others, competition,
market demand, technological change, strategic relationships,
recent acquisitions, international operations and general economic
conditions. We do not assume any obligation to update any
forward-looking statements.
Contact Information:
Investor Relations / Daniel
Roth
Phone: +1-480-305-2047
Email: info@s2cglobalresources.com
SOURCE S2C Global Systems Inc.
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