Business & Finance
Mon, March 28, 2011Sun, March 27, 2011Fri, March 25, 2011Thu, March 24, 2011Wed, March 23, 2011Tue, March 22, 2011Mon, March 21, 2011Fri, March 18, 2011Thu, March 17, 2011Wed, March 16, 2011Angelique de Maison Increases Investment in Casablanca Mining Ltd.
Published in Business and Finance on Tuesday, March 22nd 2011 at 6:10 GMT by Market Wire
SAN DIEGO--([ BUSINESS WIRE ])--CASABLANCA MINING LTD. (OTCBB: CUAU) announced today that on March 10, 2011, it entered into a Stock Purchase Agreement with Angelique de Maison in which Ms. de Maison agreed to invest up to an additional $1,000,000 in Casablanca Mining. Pursuant to the Stock Purchase Agreement, Ms. de Maison will purchase additional shares of common stock of Casablanca Mining, in installments as requested by Casablanca Mining. The purchase of $315,000 in shares of common stock was completed concurrently with the execution of the Stock Purchase Agreement and the purchase of an additional $230,000 in shares of common stock was completed on March 16, 2011. Either party may terminate the Stock Purchase Agreement with respect to any shares of common stock not purchased on or before June 30, 2011.
"Ms. de Maison has been a strong supporter of our company and a valued investor. This additional financial investment allows us to continue the acquisition and development of substantial mining properties in some of the most lucrative mining regions of Chile."
Making the announcement, Juan Carlos Camus, CEO of Casablanca Mining and Santa Teresa Minerals S.A., Casablanca Mininga™s wholly owned subsidiary, said aMs. de Maison has been a strong supporter of our company and a valued investor. This additional financial investment allows us to continue the acquisition and development of substantial mining properties in some of the most lucrative mining regions of Chile.a
Ms. de Maison said, aI am very proud of the Casablanca Mining management team and the progress they have made with my investments to date. I am delighted to continue my commitment to Casablanca Mining and Santa Teresa Minerals.a
About Casablanca Mining, Ltd.:
Casablanca Mining, through its wholly owned subsidiary Santa Teresa Minerals, S.A., engages in the acquisition, exploration, development, and operation of precious metal properties in South America. Its gold and copper mining operations are based near Santiago, Chile. Santa Teresa Minerals currently has, directly and indirectly through various equity interests, mining rights in a producing gold mine, aFree Gold,a and in an exploration project, the aCasuto Project,a consisting of Los Azules 1-3, Tauro 1-6, and Los Chipi 1-16. These projects include 30 different mining and mineral exploration properties including gold, copper and copper sulfate. Santa Teresa Minerals also owns a 60% equity position of Sociedad Sulfatos Chile S.A., a copper sulfate production project that owns the Anica Copper Mines, and a 60% equity position in a company with the rights to a revolutionary mining technology that extracts gold, silver and copper from raw mining materials using a proprietary and patented electrolysis method of electromining.
FORWARD LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results and estimates that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results or estimates expressed or implied by this press release. Such risk factors include, among others: whether Casablanca Mining can successfully execute its operating plan, including mining and exploration projects; results of exploration, project development and capital costs of mineral properties; volatility of market prices for gold, copper and copper sulfate; Casablanca Mininga™s ability to integrate acquired companies and technology; Casablanca Mininga™s ability to retain key employees; general market conditions; and other factors discussed under aRisk Factorsa in our current report on Form 8-K filed with the Securities and Exchange Commission on January 7, 2011. Furthermore, estimates of mineralized material are based upon estimates made by us and our consultants. Until mineralized material is actually mined and processed, it must be considered an estimate only. Actual results may differ materially from those contained in the forward-looking statements in this press release. Casablanca Mining does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
