Joint Venture Participation Letter of Intent reached between BTDG, BYRG and Voth International, Inc.
B2Digital, Inc. (BTDG) and Buyer Group International, Inc.(BYRG) have signed a Letter of Intent aimed at raising $120 million in debt round financing utilizing the past producing Aramco Land and Minerals Inc. claims operation west of Phoenix, Arizona as collateral for funding the venture. The venture seeks to confirm and prove up an estimated 600 million tons pertaining to the groups 147 claims on roughly 2,940 acres.
Participation interests include 50% for BTDG, 25% for BYRG, and 25% for Voth International, Inc. BTDG will provide the property including full access along with potential sales exits, and BYRG joins effort in procuring private equity and raising debt financing and managing creative content, and finally Voth International, Inc. for procurement of cash backed assets pending confirmation at the third party facilitators bank, who familiar with the deal has documented to BYRG a similar transaction at a top six US financial institution. BYRG issued $1 million in equity along with private partners totaling $5 million in common shares of BYRG to be contributed pending confirmation and disclosure of initial availability of cash funds as provided by a US bank on behalf of the Joint Venture due within the next 30-45 days.
BYRG has executed loan documents and is awaiting confirmation of the cash backed assets to be sent to the financing group. Upon confirmation the financing group will establish a draw down schedule for funding BYRG to invest to the Fedlspath/Feldspar project. Initial funding is anticipated to be finalized within 7-10 days of confirmation of the funds available against the cash backed assets. Upon funding, a full report analysis per Guide 7 and National Instruments 43-101 based upon previous testing and production is complete the property will serve as a basis for procurement additional private capital and possible re-financing. Past production on the property included sales in the Arizona and Southern California construction and recreational markets through big-box construction retailers which curtailed with the housing bubble collapse. Future anticipated outlets will include regional uses such as the USGA golf course augmentation and coastal beach restoration around the United States, as well as potential off-taker contracts with interest indicated out of China, Shanghai region, in bulk for final use in stucco, mortar, and other specialized construction applications locally and abroad.
*Regional Feldspathic/Silica deposits are situated within The Buckeye Pluton. The Buckeye Pluton is generally considered to be a fine to medium grained peraluminous two-mica granite. The deposit is composed of a medium to coarse-grained porphyritic granite and is a distinct unit located within the south central region of the Buckeye Pluton. The highly unique nature of the coarse-grained mineralogy of the deposit has significant economic benefits that will allow ALMI to produce desirable products at a premium price in the market place relative to other sand products (either natural river-bottom sand or crushed granite sand). *Source - Feldspathic/silica deposit brochure ARAMCO LAND AND MINERAL, INC.
It is important to note that BYRG has a minority interest in proposed project and is providing information as represented to BYRG. See BYRG public disclosure for full details. Completion of the proposed transactions and development of this property are dependent upon many important contingencies, including BYRG obtaining financing and guarantees, of which there is no assurance.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Buyer Group International, Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. Buyer Group International, Inc. cautions you that any forward-looking information provided by or on behalf of Buyer Group International, Inc. is not a guarantee of future performance. Completion of the transaction is dependent upon important contingencies, including completion of financing, of which there is no assurance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Buyer Group International, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Buyer Group International, Inc.'s control. In addition to those discussed in Buyer Group International, Inc.'s press releases, public filings, and statements by Buyer Group International, Inc.'s management, including, but not limited to, Buyer Group International, Inc.'s estimate of the sufficiency of its existing capital resources, Buyer Group International, Inc.'s ability to raise additional capital to fund future operations, Buyer Group International, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Buyer Group International, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Buyer Group International, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
BYRG Company
website: www.byrg.org
BTDG Company website: www.b2digital.us
Both companies disclosures statements are found at www.Otcmarkets.com
Investor Relations Contact: Inter Global Investments LLC
214-810-1317
ir@byrg.org