Amerossi Energy Corp. to Buy Controlling Interest in Grand Pacaraima Gold Corp.
LONDON, Feb 21, 2008 (MARKET WIRE via COMTEX) -- Grand Pacaraima Gold Corporation (PINKSHEETS: GPGD) announced today that Amerossi Energy Corporation (PINKSHEETS: AMRR) (FRANKFURT: 3FJ) (3FJ.F and 3FJ.DE) has executed a Letter of Intent to acquire a minimum of 51% of the common shares of Grand Pacaraima Gold Corp.
Amerossi Energy Corporation's offer to The Castora Family, Venezuela International, S.A., and certain other investors currently relates to a majority control position. However, Amerossi is considering on acquiring an 80% plus interest in the future to qualify for consolidation purposes. Details of the transaction are forthcoming.
Amerossi Chairman A. Abdoulladjanov said: "We are excited to add Grand Pacaraima Gold's valuable assets to Amerossi Energy Corporation's growing asset base. We look forward to developing these assets into a cash flow, positive addition to our portfolio."
Newly elected Grand Pacaraima Chairman, Greg Rubin, added: "Having Amerossi as our parent company increases and diversifies the holdings of our shareholders."
Grand Pacaraima Gold Corporation currently holds the concession for four gold mines in Venezuela known as the Cerro Trompa, San Miguel, Mosquito and Zapata mines. Metallurgica de Mineras S.A. has previously sampled and assayed these four mines and has determined that there are recoverable gold reserves of 3.6 million ounces and indicated reserves of 5 million ounces. In addition, through an 80%-owned subsidiary, Grand Pacaraima owns oil and gas wells in a 640 acre Oklahoma oil and natural gas field.
Investor relations Grand Pacaraima Gold Corp. 818-324-1196
Posted by GoldStocker on :
Up 83%, still has room to go!
Posted by lostone on :
looks like down for now
Posted by GoldStocker on :
Still looking good
Posted by juice on :
.01 this looks great. super low float too! moves very fast... needs more vol!
Posted by GoldStocker on :
I heard major PRs are on the way. Dividend etc.
Posted by GoldStocker on :
up 58% volume - 841,000. .0085 x .01
Posted by juice on :
.01's going now..
Posted by GoldStocker on :
Nice!
Posted by GoldStocker on :
super small tight float
Posted by juice on :
yep that means very tough fill! little bit of volume now....
Posted by GoldStocker on :
up 83%
Posted by GoldStocker on :
Hopefully we will see similar gains as yesturday.
Posted by GoldStocker on :
more volume today nice
Posted by juice on :
holding up well.. like to see it pop
Posted by GoldStocker on :
.0075 x .009
Posted by GoldStocker on :
.0075 x .0085
Posted by GoldStocker on :
GPGD up 60%, heard its going to .02.
Posted by GoldStocker on :
Heard buyings coming in soon. Pick some up for a nice gain.
Posted by GoldStocker on :
up 5% .0095 x .0105
Posted by GoldStocker on :
up 33% nice volume, more buying coming in
Posted by juice on :
yep very nice GOLD been holding since last week! gonna pop, L2 looking great!
Posted by GoldStocker on :
.011 x .013 volume 500,000, heard major PR coming wed.
Posted by GoldStocker on :
bids stacked * .011 and .01 could pop anytime
Posted by juice on :
.013's going, nice volume! this week should be good gold, any idea what kind of newS we're expecting??
Posted by juice on :
slow so far... nice lil dip. tomorrow could get exciting... im still holding
Posted by GoldStocker on :
going for an eod push if any1 wants to help out get some buying coming in.
Posted by GoldStocker on :
*GPGD-RUMOR IS THEYRE MERGING WITH AMEX GOLD COMPANY*
Posted by juice on :
thats what im hearing!! Posted by GoldStocker on :
up 12% all ready, bids stacking we should break thru .014 today
Posted by juice on :
gonna rock here... the float is a lot tighter then we think from the looks of how this trades!
Posted by juice on :
New HOD .0145! On our way to .02
Posted by a surfer on :
.0155
Posted by juice on :
quote:Originally posted by GoldStocker: *GPGD-RUMOR IS THEYRE MERGING WITH AMEX GOLD COMPANY*
p/r today?
Posted by farmerboy on :
nice day on this.
Posted by juice on :
.01 wheres our MAJOR PR?!
Posted by GoldStocker on :
Its coming! today or tomorrow am.
Posted by GoldStocker on :
Heard news is coming Monday morning. Major merger annoincement, should easily run past .02!
Posted by GoldStocker on :
Grand Pacaraima Gold Corp. Announces Signing of Letter of Intent Mar 10, 2008 9:00:00 AM View Additional ProfilesLONDON -- (MARKET WIRE) -- 03/10/08 -- GRAND PACARAIMA GOLD CORP. (PINKSHEETS: GPGD), a London, U.K.-based development stage gold mining company, announced today that the company has signed a letter of intent with Innovative Mining Technologies, Inc. (IMT), a privately held mining company, to commercialize a proprietary, and environmentally safe innovative gold extraction technology. For over a century, highly toxic cyanide has been used in the mining industry to dissolve and extract microscopic particles of gold and other precious metals from gold-bearing ores. IMT proprietary technology was found to be very effective for a variety of ores and concentrates and is extremely efficient in extracting micro-fine gold, a major component in placer deposits. IMT's revolutionary advantages include its ability to extract gold in an environmentally safe and nontoxic process. The IMT Process also results in faster and very cost effective processing and a higher yield in gold recovery when compared with cyanide or other toxic chemical extraction methods.
In accordance with the letter of intent, the agreement between GPGD and IMT will be consummated upon fulfillment of financial due diligence and conditions, currently under negotiation, by both companies.
About Grand Pacaraima Gold Corp.
Grand Pacaraima Gold Corporation currently holds the concession for four gold mines in Venezuela : Cerro Trompa, San Miguel, Mosquito and Zapata mines. Metallurgica de Mineras S.A. has previously sampled and assayed these four mines and has determined that there are recoverable gold reserves of 3.6 million ounces and indicated reserves of 5 million ounces. In addition, through an 80%-owned subsidiary, Grand Pacaraima owns oil and gas wells in a 640 acre Oklahoma oil and natural gas field.
About Innovative Mining Technology, Inc.
IMT, Inc. is a R&D and mining company with proprietary technologies in extractive metallurgy. These technologies include the company's Gold recovery technology for the hydrometallurgical extraction of gold from its ores. The technological Process is both non-toxic and more efficient than conventional solvents such as cyanide. The IMT process accelerates the gold extraction rate and may increase gold recovery from its ore up to 90%.
Safe Harbor Statement
Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions. These statements are subject to uncertainties and risks including, but not limited to, economic conditions, the impact of competition and pricing, government regulation, and other risks. All forward-looking statements made by or on behalf of the Company are qualified. The Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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