Los Angeles, CA , March 23, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reign Sapphire Corporation (RGNP):
To our shareholders:
Reign Sapphire Corporation (Reign) has started 2020 with a significant move into the Australian gold industry. The acquisition of 75% interest in Werribee Downs Gold Project marks the first addition to our portfolio of what we believe is high quality prospective gold tenements in Victoria.
The region where we have commenced exploration planning is ranked #1 in the Fraser Institute's Annual Survey for mining attractiveness, and has a documented history of some of the highest gold yield in the world. The 250km2project is situated in the Mount Rothwell area in Victoria, Australia, to the East of the Steiglitz Goldfields. Mount Rothwell is 20 km west of Werribee in the Bendigo-Ballarat Gold Province.
We would like to notify shareholders that we have commenced modeling for the exploration project and will be updating shareholders as to further developments.
It’s all about shareholder value
In the interest of providing maximum shareholder value and harnessing opportunity during these turbulent market times, management is very pleased to update shareholders of our intention to eliminate a significant portion of debt. The company has already reduced debt by more than 30% which will be reflected in the upcoming 10-K. This is only the beginning and we intend to update shareholders on further major debt reductions as they are finalized.
Reign has extensive experience in exploration and mining as well as a network of Australian based geologists, which will help position us well in the Australian gold sector. Our mission and ultimate goal is to use these resources to provide our shareholders with measured growth in the face of an unstable market. The company is currently assessing other gold projects, and management is in discussions to sign further agreements for additional prospective tenements in the region.
As the CEO of Reign, I am very excited with our plans for 2020 and look forward to updating our shareholders with developments shortly.
Joseph Segelman
CEO & Managing Director
Reign Sapphire Corporation
23 March 2020
info@reignsc.com