|By Marketwired .||
|March 19, 2014 08:45 AM EDT|
TORONTO, ON -- (Marketwired) -- 03/19/14 -- Uranium Hunter Corporation ("The Company") (OTCPink: URHN) (PINKSHEETS: URHN) is pleased to announce the execution of the Stock Purchase Agreement between the Company and Minas Core Mining Inc., a Nevada Corporation and owner operator of the Rio Petro Diamond Project in Brazil.
Under the terms of the Agreement, the Company will receive 80% (eighty percent) or 40,000,000 (Forty Million) authorized shares of Minas Core Mining Inc. for the aggregate consideration of $3,200,000 (Three Million Two Hundred Thousand Dollars) payable by 3,200,000,000 (Three Billion Two Hundred Million) shares of the Company's common stock with a one-year restriction as may be permitted under Rule 144 under the Securities Act of 1933.
In addition, the Company will contribute $6,000,000 (Six Million Dollars) over a 30 (Thirty) month period towards the work program, operational costs, equipment and further development of the Rio Petro Diamond Project in Brazil through Minas Core Mining Inc. and/or its subsidiaries.
Reno J. Calabrigo, President, stated, "We are working closely with Minas Core Mining and its Management Team to launch an aggressive development and work program for the upcoming season." Mr. Calabrigo further stated, "We will be providing in depth information in the near future on the Rio Petro Diamond Project including historical references, open pit probing surveys, previous work programs and their findings, as well as plans for further development, modernization and expansion of the project."
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Uranium Hunter Corporation with members of its management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Reno J. Calabrigo