LAS VEGAS--(EON: Enhanced Online News)--Amarium Technologies Inc. (Pink Sheets:AMMG), through its wholly owned subsidiary Amarium Minerals Inc., reports that the Company has received USD$4.5 million from Anglo-Asia Resource Partners, representing the first installment of payments in their previously announced Copper Stream Agreement. Anglo-Asia is a private Hong Kong based partnership that is focused on procuring precious and base metals for the Asian market. On June 5th, 2013, Amarium entered into a Copper Stream Agreement with Anglo-Asia, for an initial payment of US$8.75 million. A second installment of USD$4.25 million is expected to be completed later this fall, as the expansion project at the Jovita mill continues to progress. Under the terms of the Copper Stream Agreement, Anglo-Asia is entitled to 18% of the monthly production at Jovita, but is also required to make ongoing payments of $0.75 per pound of copper.
Adam Carter, President & CEO of Amarium, commented, “Our relationship with Anglo-Asia has been critical in accelerating the development of Amarium. We now have the capital budget and financial leverage to advance our production and exploration endeavors. Our deal with Anglo-Asia essentially provides a triple benefit to our shareholders. The required capital received by Amarium, under the Anglo-Asia agreement, is also non-dilutive. Additionally, the exposure to the new channels of Asian investment and trade, as a result of this new relationship, could prove to be compelling in the growth of Amarium.”
Amarium is focused on the acquisition and development of base metals projects in Mexico that are currently in or near production and advanced exploration properties that will add substantially to the Company's asset foundation. Management is continuing to actively pursue mineral interests that represent significant growth, value and cash flow opportunities.
For additional information, please visit: www.amariumminerals.com
This press release contains statements that are forward-looking and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on Amarium Technologies, Inc.'s current expectations and projections about future events, based on information currently available. The forward-looking statements found in this press release may also include statements relating to Amarium Technologies, Inc.'s anticipated financial performance, business prospects, new developments, strategies, and similar matters. Amarium Technologies, Inc. provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release. Amarium Technologies, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.