Venga to buy interest in West African mining company
2006-09-21 13:46 ET - News Release
Mr. Hirsh Kwinter reports
VENGA SIGNS AGREEMENT TO ACQUIRE AN INTEREST IN GOLD MINING COMPANY
Venga Aerospace Systems Inc. has entered into an agreement with Global Mineral Investments, LLC (GMI) of McComb, Miss., wherein the company would acquire an immediate 3-per-cent interest in GMI and have an option, over the next three years, to acquire up to an additional 15-per-cent equity position in GMI. GMI is a private corporation which primary business is leasing and processing gold concessions in West Africa and, in particular, has extensive business and mining experience in Liberia. GMI has recently been invited by the Liberian Ministry of Lands, Mines and Energy to evaluate and potentially acquire gold concessions in that country's Sinoe county region. In addition, the Liberian government has indicated that certain oil concessions may also be made available to GMI.
"We have been in discussions with GMI's management for the past several months, and with precious metals and oil at record high prices, we strongly believe that our equity participation in GMI may prove to be excellent opportunity for the company," stated Venga's president, Hirsh Kwinter.
We seek Safe Harbor.
