UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 

Date of Report: November 5, 2014
(Date of earliest event reported)
 
 
U.S. PRECIOUS METALS, INC.
(Exact name of registrant as specified in its charter)
 
 
Delaware
000-50703
14-1839426
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer I.D. No.)
 
 
176 Route 9 North
Suite 306
Marlboro, NJ 07728
  (Address of Principal Executive Offices)
 
  
(732) 851-7707
 (Registrant's telephone number, including area code)


 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
 

 
Item 7.01  Regulation FD Disclosure.

On November 7, 2014, the Company received a Phase Development Update letter from Mesa Acquisitions Group, LLC. The letter is attached hereto as Exhibit 99.1.

The  information in this Item 7.01 of this Current Report is furnished  pursuant to Item 7.01 and shall not be deemed "filed" for any purpose,  including for the purposes  of  Section  18 of the  Exchange  Act,  or  otherwise  subject  to the liabilities of that Section.  The information in this Current Report on Form 8-K shall  not be  deemed  incorporated  by  reference  into any  filing  under  the Securities  Act or the  Exchange  Act  regardless  of any general  incorporation language in such filing. The filing of this report and the furnishing of this information pursuant to Item 7.01 do not mean that such information is material or that disclosure of such information is required.

Item 9.01. Financial Statements and Exhibits.
 
99.1 Letter from Mesa Acquisitions, LLC to the Company dated November 7, 2014.
 
 
 


SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 

 
U.S. PRECIOUS METALS, INC.
 
 
 
 
 
 
By:
/s/ Gennaro Pane 
 
 
 
Name: Gennaro Pane
 
 
 
Title: Chief Executive Officer
 
 
 
Date: November 7, 2014
 



Exhibit 99.1
 
 
 
MESA ACQUISITIONS GROUP
 
Mr. Jerry Pane
CEO/Chairman
U.S. Precious Metals, Inc.
176 Route 9 North
Suite 306
Marlboro, NJ 07728
 
RE:
Phase Development Update
November 5, 2014

 
Dear Mr. Pane:
 
As you know, on May 22, 2013, US Precious Metals, Inc. (USPR) formed a joint venture agreement with Mesa Acquisitions Group (MAG). At that time, the agreement between our respective parties was for us to commit $50,000,000 to start a small-scale mining operation based on certain criteria (i.e. Phase One – Satellite Imaging, to coincide with previous drilling campaigns and Phase Two/Three – build out of mining operation). On October 7, 2014, we received the satellite, chemical, and groundwork results and requested a meeting with the company. Collectively, we have relied on third parties to review the results and provide us their opinion using various assumptions. These results indicate tremendous value potential for mine development.
 
Thus, we have agreed that your company will most likely become an acquisition target. Therefore, it seems prudent to change the strategy of our focus. It is the MAG group’s position to focus our efforts on a massive drilling campaign effective immediately, in which MAG stands ready to commit the aforementioned funds. This will provide the traditional accepted proof of reserves required of a public mining company to enable a prospective purchaser to justify a non-discounted purchase price based on the Company’s high quality reserves.
 
We are prepared to discuss our new strategy with your new head of Mergers and Acquisitions, Scott Hartman. I very much look forward to working with him, as his reputation precedes him. Moreover, you have apprised me the company will be taking satellite images of the entire property for Gold (Au), Silver (Ag), and Copper (Cu). Additionally, we are in agreement that an extended satellite campaign spanning the remaining 35,000 acres of the property is in order and we anticipate having this conversation with Mr. Hartman in the very near future.
 
Should you desire any further update or have any other questions, please do not hesitate to contact me.
 
Sincerely,
 
 
/s/ George Mesa
George Mesa President/CEO
Mesa Acquisitions Group
Tel: (305) 909-6808
Dir: (305) 420-8222
Fax: (305) 513-5131
 
 
 
 
 
Ph: 305.420.8222 – Fax: 305.909.7833 – Seybold Building, 36 NE 1st Street, Suite 927 Miami, FL 33133