Xuan Wu International Group Holding Co. (PC) (USOTC:XNWU)
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5 Years : From Jun 2014 to Jun 2019
Xuan Wu Group International Holding Company, Inc., (XNWU.PK), a
processor of ballast and limestone, is pleased to announce that it has
signed a letter of intent with the National Development Venture Capital
Co., Ltd. of Jiangsu Province, People’s Republic of China, to provide
equity financing of 25.08 million Rmb or approximately $3.7 million.
The use of proceeds will be for the purchase of additional ballast mine
that is estimated to possess over 300 million tons of ballast. The
mine’s ballast will be used in either road construction in Hebei
Province or railway construction for the new Beijing/Shanghai Express
Current spot rate on ballast is approximately $8.00 per ton, equating
the mine to be valued at $24 million over its 10-year lifespan.
The Venture Capital group also has an option to increase its funding in
Xuan Wu’s two other projects, the Quartz Diorite Mine and its hotel
The deal is expected to close after the Harvest Moon Chinese Holiday
(Zhong Qiu Jie).
About Xuan Wu Group International Holding Company, Inc.
The Company’s subsidiary is engaged in the exploration, processing, and
selling of basalt slip-resistant stones, railway ballasts, and limestone
within the People’s Republic of China.
The Company has 20 year rights to two mines located near Wulizhuang
Village in Hubei, Province. The annual output of each mine is
approximately 300,000 tons.
For further information, please visit their website www.xuanwu.cn.
The statements contained in this press release contain certain forward
looking statements, including statements regarding the company’s
expectations, intentions, strategies and beliefs regarding the future.
All statements contained herein are based upon information available to
the company’s management as of the date hereof, and actual results may
vary based upon future events, both within and without the control of
the company’s management.