Business & Finance
Business and Finance
Business and Finance 
Tue, January 5, 2010
Spectrum Finalizes Terms of Definitive Operations Agreements with Peruvian Gold Production Mining Company
AUSTIN, Texas--([ BUSINESS WIRE ])--Spectrum Acquisition Holdings, Inc. (PINK SHEETS: [ SPAH ]) of Austin, Texas, signs definitive agreements for two targeted Peruvian Gold Production Mining operation acquisitions and prepares to close both operations agreements. Spectrum has acquired a 50% operating interest in both the Peruvian Gold Production Mining Acquisitions located in the world renowned Pataz "Gold" Region. Spectrum has now gone from negotiating to finalizing terms and agreements with both acquisitions.
CEO Dale Henry stated, "This is exactly what we need in order to expand our global presence into the Latin American markets. I am thrilled to announce upon closing of these operation acquisitions, Spectrum will have immediate operations and cash flow from these entities thereby adding revenue streams to be funneled into the company and allow us to grow at a better pace than previously anticipated."
We look forward to announcing the closing of these operations agreements in the coming days.
About Spectrum:Spectrum Acquisition Holdings, Inc. is a growing holding company with interests in established drilling and mining equipment manufacturing through its wholly owned subsidiary, Western American Mining Corporation. Spectrum has recently ventured into the market of "green technologies" that will provide "small footprint" drilling technologies, bio-mining, remote controlled exploration modules, GPS positioning of drilling, micro drilling, composite drilling components and other technologies that will minimize the traditionally poisonous and toxic environmental threats posed by the mining industry.
SPAH's subsidiary, Western American Mining Company, contains four patent-pending invention applications. Western American Mining Patents:
1. Intrinsically Safe System for Mineshaft Illumination – AN/20090284983
2. Laser Guidance System for Diamond Wire Cutting Apparatus - AN/12122427
3. Continuous Refractory Ore Bioprocessing Apparatus - AN/12101968
4. Mixing, Milling and Aeration Apparatus for Digesting Metal Ore with Bacteria - AN/121030053
Spectrum is aggressively positioning itself to be a model for Green mining equipment. The Company is currently researching the technique of bioleaching process technology by creating continuous processing equipment useful for isolating gold ore. This technology will increase the yield of high-grade ore by using eco-friendly microbes, as compared to traditional high energy requirements of roasting and autoclaving or deadly use of toxic chemicals.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. SPAH has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the SPAH's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the SPAH's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. SPAH undertakes no obligation to update or advice in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.