MESA, Ariz., Nov. 30, 2010 (GLOBE NEWSWIRE) -- B2Digital (Pink Sheets:BTDG) to announce major news on Thursday, December 2, 2010, regarding recent buyout offers for all outstanding shares of its common stock.
On September 16, 2010, B2 Digital announced its Board of Directors unanimously approved a resolution to accept an offer of $0.15 a share for all outstanding shares of B2 Digital, Inc. The offer was contingent on Sino-Can Industrial Holdings Group Ltd. receiving official proof of the 43-101 claim and the performance of mutually satisfactory due diligence. On September 17, 2010, B2 Digital, Inc. announced that Sino-Can Industrial Holdings Group Ltd. had agreed to provide a non-refundable deposit of U.S. $1,000,000 prior to any due diligence being performed by either party. B2 Digital, Inc. also announced on September 17, 2010, its Board of Directors had been informed that the $0.15 offer received from Sino-Can Industrial Holdings Group Ltd. was being amended to $0.04 per share to reflect current market conditions. On September 29, 2010, B2 Digital, Inc. announced that its Board of Directors recommended a price of $0.10 per share as a fair value in response to the revised offer of $0.04 per share made by Sino-Can Holdings Ltd. on September 17, 2010.
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 $1,875,000 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, Inc.
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 of 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.