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GOLD MINING USA INC. EXECUTES AGREEMENT TO ACQUIRE Q AUSTRALIA
GOLD MINING USA INC. EXECUTES AGREEMENT TO ACQUIRE Q AUSTRALIA.
About this update from Vita Mobile Systems, Inc.
[{"type":"text","content":"Gold\nMining USA, Inc. (OTC Pink: GMUI) announces that it has signed an agreement to acquire Q\nAustralia Acquisitions I Pty Ltd. The UK parent of Q\nAustralia Acquisitions I Pty Ltd (\"Q Australia\") is an energy and\ncommodities company that acquires strategic companies in the mining and metals\nsector that are listed on various global stock exchanges. These companies meet\nselection criteria that aims to reduce business risks, increase book value, and\nmaximize intrinsic value. Mr. Maurice Byrne states that \"the acquisition\nof Q Australia has the potential to produce significant opportunity and value\nfor GMUI. We believe that this acquisition will complement the Company’s\nprojects in North America.” \n\nThe terms of the Share\nTransfer provide for the issuance of a promissory note by Gold Mining USA Inc.\nin the amount of £580,000 and other considerations, including that the Company\ncontinue to cooperate with Q Australia’s parent company to achieve specific\ndefined commercial objectives. Management of Q Australia will be through its\nexisting management. The Company does not anticipate an increase in operating\ncosts as a result of the Share Transfer. In the initial stages, the projected\noperating costs are covered through the cooperation agreement announced on\nSeptember 4, 2014.\n\nQ Australia is entitled,\npursuant to an agreement executed prior to the Share Transfer, to all the cash\nflow sums from a mining development license covering an exploration tenement in\nQueensland Australia. Additionally, Q Australia has strategic relationships\nthat GMUI expects to provide additional, less dilutive, opportunities to\nfinance the Company’s exploration plans.\n\nAbout Gold Mining USA Inc.\n\nGold Mining USA, Inc.,\nan exploration stage company, focused on the exploration and development of\nmetallurgical and mining projects in the United States. The company’s silver\nand gold mining assets are concentrated in the State of Nevada. Gold Mining\nUSA, Inc., and is headquartered in Sacramento, California.\n\nSafe Harbor Statement\n\nCertain statements in\nthis press release that are not historical facts are \"forward-looking\nstatements\" within the meaning of the Private Securities Litigation Reform\nAct of 1995. Such statements may be identified by the use of words such as \"anticipate,\"\n\"believe,\" \"expect...