MESA, Ariz., Sept. 20, 2010 (GLOBE NEWSWIRE) -- B2 Digital, Inc. (Pink Sheets:BTDG) announced today its Board of Directors has agreed to enter into further negotiations with Sino-Can Industrial Holdings Group Ltd. with respect to the revised offer received from Sino-Can on Friday September 17, 2010 for $0.04 per share.
The Board of Directors of B2 Digital, Inc. has requested Sino-Can Industrial Holdings Group Ltd. enter into a more formal agreement with B2 Digital with certain terms and conditions to be met by both parties including Sino-Can providing a non-refundable deposit prior to any due diligence being performed by either party.
B2 Digital has also requested permission from Firma Gold to publish the NI 43-101 geology report on our website.
B2 Digital recently entered into a joint venture agreement with Firma Gold. Firma Gold's estimated reserves of 1.5 million ounces could have an estimated worth of $1.875 billion based upon the current price of gold. B2 Digital, Inc. will receive 90% of the net profit after deduction of capital or operating costs incurred in their role as JV partner. Firma Gold will receive 10 percent of the net profit under terms of the Joint Venture Agreement.
About B2 Digital
B2 Digital is dedicated to seeking acquisitions and joint ventures within the resource sector and in particular mining properties that contain gold and silver reserves. Management of its subsidiary has many years of experience in the exploration and operations of mining assets. B2 Digital is currently in the process of divesting itself of some of its technology assets. More information on B2 Digital can be found at: http://www.b2digital.us.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result to certain risk and uncertainties, including but not limited to those detailed from time to time in the Company's filings with Pink Sheets.com. Mining projects are subject to numerous risk factors including changing regulations, volatile commodity prices, and other factors that may preclude production should commercially viable reserves be established on a property and exploration plans dependent on funding and approval of any required permits.