Gold Mining USA, Inc. (OTC Pink: GMUI) announces that it has signed an agreement to acquire Q Australia Acquisitions I Pty Ltd. The UK parent of Q Australia Acquisitions I Pty Ltd ("Q Australia") is an energy and commodities company that acquires strategic companies in the mining and metals sector that are listed on various global stock exchanges. These companies meet selection criteria that aims to reduce business risks, increase book value, and maximize intrinsic value. Mr. Maurice Byrne states that "the acquisition of Q Australia has the potential to produce significant opportunity and value for GMUI. We believe that this acquisition will complement the Company’s projects in North America.”
The terms of the Share Transfer provide for the issuance of a promissory note by Gold Mining USA Inc. in the amount of £580,000 and other considerations, including that the Company continue to cooperate with Q Australia’s parent company to achieve specific defined commercial objectives. Management of Q Australia will be through its existing management. The Company does not anticipate an increase in operating costs as a result of the Share Transfer. In the initial stages, the projected operating costs are covered through the cooperation agreement announced on September 4, 2014.
Q Australia is entitled, pursuant to an agreement executed prior to the Share Transfer, to all the cash flow sums from a mining development license covering an exploration tenement in Queensland Australia. Additionally, Q Australia has strategic relationships that GMUI expects to provide additional, less dilutive, opportunities to finance the Company’s exploration plans.
About Gold Mining USA Inc.
Gold Mining USA, Inc., an exploration stage company, focused on the exploration and development of metallurgical and mining projects in the United States. The company’s silver and gold mining assets are concentrated in the State of Nevada. Gold Mining USA, Inc., and is headquartered in Sacramento, California.
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Gold Mining USA to be materially different from those expressed or implied by such forward-looking statements. Gold Mining USA’s future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its future plans; (ii) acquire and retain adequate management to operate the Company; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.
For Further Information
Telephone: (209) 386-7753
Email: info@gmuiinc.com
Web: www.gmuiinc.com