Irvine, Jan. 13, 2014 (GLOBE NEWSWIRE) -- ABOT Mining (Pink Sheets: ABOT.pk) is pleased to announce that it has entered into a non-binding letter of intent ("LOI") to acquire all of the issued and outstanding common shares of Rising Star Mining ("Rising Star"), a Mexican corporation that owns Aztlan 8B property in Nayarit, Mexico.
As of December 06, 2011, ABOT entered into an option agreement with Rising Star, whereby Rising Star ("Optionor") had granted an option to ABOT to acquire a 50% interest in certain mineral claims in its Mexico property, also known as Aztlan 8B. Subsequent to successful acquisition of Rising Star, ABOT will have 100% mineral claims on Aztaln 8B.
Completion of the acquisition will be subject to the negotiation and execution of a binding agreement and the satisfaction of a number of conditions, including, but not limited to each of ABOT Mining and Rising Star being satisfied with the results of their respective due diligence investigations.
About the Company
ABOT is a US based mining company engaged in discovering, acquiring, developing, producing, and marketing precious and semi-precious metal properties and is currently headquartered in Woodland Hills, California. ABOT plans to create long term shareholder value by implementing an aggressive exploration program, making new precious metals discoveries and developing mining properties with long-life and low cost operation.
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Forward-Looking Statement
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.