Press Release | 01/15/2020
Wednesday, January 15, 2020, Draper, UT NRP Stone, Inc. Announces Amended Letter of Intent
The Company previously issued an Amended Letter of Intent for the acquisition of Rare Metals and Gems Investors, LLC (RMGI), which has been amended to address the recently received exclusive worldwide marketing agreement for white diamonds and added gold products. The Amended LOI was issued by NRP to RMGI on January 15, 2020 after the marketing agreement was received by RMGI. NRP has chosen a closing date of February 15, 2020.
The RMGI marketing agreement includes raw and finished white diamonds, as well as different gold products, including bullion, coins, nuggets, and jewelry. GIA-graded, colored diamonds in Luxium ring settings and GIA-graded, loose diamonds will be transferred to NRP in the transaction. One ton of Luxium ore concentrate has also been offered to NRP in the transaction. The ore was appraised by a third party in a Technical Assessment and Valuation Report dated August 30, 2019, being valued at $1.5MM per ton.
Once the RMGI transaction is closed, NRP expects to begin funding the company for the purpose of purchasing white diamonds and gold products for sale in NRP products. NRP will then directly negotiate R&D, manufacturing, and marketing of Luxium products. Management also expects to seek joint manufacturing operations for colored diamonds. As previously reported, a fully integrated funding, manufacturing, and marketing strategy for a multiple-phased plan of manufacturing and marketing is being discussed. This has been expanded to include minting operations for gold coins, as well as diamond cutting and finishing operations.
NRP Stone, Inc. is engaged in marketing and distribution of unique precious metals and gems. SYM: NRPI (NRPI.PK) U.S.:
