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Nadir Energy and Mining Corp. Acquires Controlling Interest in Grand Pacaraima Gold Corp.Font size: A | A | A2:44 PM ET 2/11/09 | Market Wire
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10:40 AM ET 2/18/09
Symbol Last % Chg
GPGD 0.01 25.00%
NADI 0.75 0.00%
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Grand Pacaraima Gold Corporation (PINKSHEETS: GPGD) announced today that a majority of all its issued and outstanding shares have been acquired by Nadir Energy and Mining Corp. (PINKSHEETS: NADI) (FRANKFURT: 3FJ). Members of the Castora family from Venezuela and other investors have accepted this exchange. Chairman and President Abdoumalik Abdoulladjanov of Nadir Energy and Mining Corp. and Chairman of Grand Pacaraima Gold recently stated, "We are excited to add Grand Pacaraima Gold's valuable assets to Nadir Energy and Mining Corporation's growing asset base. We look forward to developing these assets into a cash flow, which is a positive addition to our portfolio. This transaction also increases and diversifies the holdings of our shareholders."

Grand Pacaraima Gold Corp. (PINKSHEETS: GPGD) has interests in four gold mines in Venezuela which are the Cerro Trompa, San Miguel, Mosquito and Zapata. Metallurgica de Mineras S.A. has previously sampled and assayed these four mines indicating they contain recoverable gold reserves of 3.6 million ounces and indicated reserves of 5 million ounces. Nadir Energy and Mining Corp. (PINKSHEETS: NADI) also owns other natural resources which are located in Canada including a substantial iron ore property along with certain reserves in Russia.