KEPCO AND KBRIDGE LINK- $2 billion nuclear reactor deal with Saudi Arabia
OLD NEWS PUTTING KEPCO AND KBRIDGE TOGETHER.
EX-99 2 exhibit991.htm EXHIBIT 99.1
FOR IMMEDIATE RELEASE
KBRIDGE ENERGY CORP.
5836 S. Pecos Road, Suite 104
Las Vegas, Nevada 89120
N E W S R E L E A S E
Las Vegas, NV –KBridge Energy Corp. announces that, concurrent with its name change from Blue Marble Media Corp. to KBridge Energy Corp. which took place in December 2011, management has elected to change its business sector to natural resource development and related projects. Management believes that acting in a consultancy capacity in this industry has tremendous potential for the company.
KBridge intends to facilitate global resource developers with investments from Korean companies in the energy/resource sector. KBridge will provide resource developers with long-term funding options for successful projects, together with ongoing growth opportunities, while assisting Korean companies in securing resource supplies and advancing into the global resource industry.
With its extensive experience in the natural resource sector and existing connections in Korea and North America, KBridge introduced Korean Electric Power Corporation (“KEPCO”), to Strathmore Minerals Corp. (“STM”), and assisted the companies to enter into a definitive agreement on February 1, 2012 in respect of a phased joint venture development of STM’s Gas Hills, Wyoming uranium properties (the “Properties”). KBridge has agreed to provide advisory consulting services to Strathmore in connection with STM’s negotiations with KEPCO for an equity private placement in STM and for project financing in connection with the exploration and development of STM’s properties and signed consultant's fee agreement with STM dated February 17, 2012,
Strathmore Minerals Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties in the United States. Headquartered in Vancouver, British Columbia with a branch administrative office in Kelowna, the Company also has U.S. based Development Offices in Riverton, Wyoming and Santa Fe, New Mexico. Strathmore Minerals Corp. Common Shares are listed on the TSX under the symbol "STM" and trade on the OTCQX International electronic trading system in the United States under the symbol "STHJF".
Korea Electric Power Corporation is a Korean government-invested diversified energy company with over US$120 billion in assets. KEPCO is involved in the generation, transmission and distribution of electrical power from nuclear, hydro, coal, oil and LNG sources worldwide. KEPCO provides electricity to almost all households in Korea and operates 21 nuclear power plants in the country with seven more under development. KEPCO has over 46,000 employees and is listed on the Korean Stock Exchange and the New York Stock Exchange. (www.kepco.co.kr).
Dated at Las Vegas, Nevada, this 24th day of February, 2012.
ON BEHALF OF THE BOARD OF
KBRIDGE ENERGY CORP.
For more information contact Lindsey Shin at (250) 979-6360.
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South Korea to build nuclear reactors for Saudi Arabia
By Reuters
Wednesday, 4 March 2015 1:42 PM
(Image for illustrative purposes only)
Saudi Arabia and South Korea have signed a memorandum of understanding (MOU) to cooperate on the development of nuclear energy, Saudi state news agency SPA said, building on a deal signed in 2011.
South Korean President Park Geun-hye met with Saudi Arabia's King Salman on Tuesday in Riyadh during an official visit, SPA said.
The MOU calls for South Korean firms to help build at least two small-to-medium sized nuclear reactors in Saudi Arabia, the South Korean presidential office said in a statement.
"If the two units go ahead, the cost of the contract will be (near) $2 billion," the statement said.
Saudi Arabia aims to build 17 gigawatts (GW) of nuclear power by 2032 as well as around 41 GW of solar capacity. The oil exporter currently has no nuclear power.
Those plans are likely to take until 2040, the head of the King Abdullah City for Atomic and Renewable Energy (K.A.CARE), in charge of overseeing such projects, said in January.
On Tuesday, K.A.Care said in a statement: "The two sides will discuss the current mutual activities and ways and means of future collaboration, building on the bilateral agreement already signed between the kingdom of Saudi Arabia and the Republic of South Korea in 2011 with a view to develop and apply nuclear energy for peaceful uses."
That agreement called for cooperation in research and development, as well as in construction and training.
Separately, Saudi Electricity signed four energy-related agreements on Tuesday with US company General Electric as well as South Korea's Korea Electric Power Corp (KEPCO), Doosan Heavy Industries and Construction and Eximbank.
The KEPCO agreement calls for cooperation in development of nuclear and renewable energy.
Al Hassan Ghazi Ibrahim Shaker Co. also signed a non-binding MOU with South Korea's LG Electronics on cooperation in cooling systems for nuclear reactors.
The United Arab Emirates was the first Gulf Arab state to start building a nuclear power plant. In December 2009, the UAE awarded a group led by KEPCO a contract to build four 1,400 MW nuclear reactors to meet surging demand for electricity.
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