News: ABV Gold Releases Independent Appraisal of Russian Mine Merger Target and Signs Letter of Intent
MONTREAL -- (MARKET WIRE) -- 01/18/08 -- ABV Gold (PINKSHEETS: ABVG) (FRANKFURT: AB8), a gold and other precious metals mining company, released today the independent appraisal report from BK Arkadia and the appraised value of TsNIGRI demonstrating a value of $3.3 Billion USD for the Russian Mine Operation.
The company immediately signed a letter of intent for the acquisition of up to 12% working interest in the Russian mine.
According to the company, the letter of intent states that the identity of the Russian Mine shall continue to remain confidential until such time as the company concludes the working interest agreement. The company has now begun discussions with several investment banking firms in the United States and Canada familiar with Russian transaction to enable adequate financing of its interest.
"We look forward to continuing our efforts to acquire the 12% working interest into the Russian Mine and hopefully be able to acquire a larger interest as we move towards a farm-in agreement," said Daniel Ryan, President and CEO of ABV Gold. "The working interest of 12% represents a value of $396 million and previously discussed, given a total outstanding shares of 250 million, the asset would be a tremendous value creation for our shareholders," further added Mr. Ryan.
NOTE:
Independent appraisal No 77-76418723/07/07/11-01/01 was performed by the supervision of Borisova V.V. under license No. 011997 - Insurance# 19/07-074648 and report registered under No 07-11-01/01 of the Russian Federation license #519
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other events and conditions.
Contact:
Daniel Ryan
President
dryan@abvgoldinc.com
1-514-448-2193
Dale Baeten
dale@midweststockconsultingllc.com
1-920-418-0153
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