Current Report Filing (8-k)
November 07 2014 - 2:06PM
Edgar (US Regulatory)
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
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000-50703
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14-1839426
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer I.D. No.)
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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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 7.01 Regulation FD Disclosure.
On November 7, 2014, the Company received a Project and Funding Update letter from Plasmafication Technology Holdings, 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 Plasmafication Technology Holdings, LLC to the Company dated November 5, 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.
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U.S. PRECIOUS METALS, INC.
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By:
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/s/ Gennaro Pane
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Name: Gennaro Pane
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Title: Chief Executive Officer
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Date: November 7, 2014
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Exhibit 99.1
PLASMAFICATION
TECHNOLOGY HOLDINGS
November 5, 2014
Mr. Jerry Pane CEO/Chairman
US. Precious Metals, Inc.
176 Route 9 North
Suite 306 Marlboro, NJ 07728
RE: Project and Funding Update
Dear Mr. Pane:
I would like to update you as to the status of our project development and funding. As of October of this year, the company has been fully funded in order·to upgrade oudacilities to get to·full commercial operations. The details of the financing are as follows: $1.25mm to purchase and fabricate the necessary equipment to be fully operational followed by a benchmark based capital expansion plan of $50mm to build. out the entire 29 Palms, CA property, including additional plasma units as earlier discussed between our companies. The engineering and drawings for the necessary fabricated items are completed. We anticipate being ·fully operational in the first quarter of .2015.
The company is in the process of locking up intellectual properties and patents that should provide ·a tremendous opportunity in the licensing arena and we look forwardto exploringthis avenue with USPR inthe very near future.
Best regards,
/s/ Joseph Spano
Plasmafication Technologies Holdings, LLC
USA Administrative
201 S. Biscyne Blvd.
28th Floor
Miami, FL 33130
office (305) 913-1371
fax (305) 328-8283
Metal Recovery
75850 Baseline Rd.
29 Palms, CA 92277