MSVS TODAYS NEWS - Micron Enviro Systems and Britannia Mining Pursue Merger
8:54a ET August 15, 2012 (GlobeNewswire) Micron Enviro Systems, Inc. (MSVS.PK), an emerging mining company, announced that after weeks of negotiations, management has executed an LOI (Letter of Intent) with U.K. company, Britannia Mining, with a look to complete the merger within the 4th QT.
"We have diligently worked on streamlining our business model -- focusing on gold claims in the Yukon-- as a means of positioning us for the right opportunity," stated Bradley Rudman, President of Micron Enviro Systems. "This merger has the potential to bring a lot of value to Micron shareholders."
It is expected that if structured properly, current Micron shareholders will benefit greatly from the proposed merger. It is believed that Britannia will bring an immediate value to the public company, dramatically increasing and substantiating Micron's valuation. A short term value should also be recognized through Britannia's iron ore project in Nthale Hill to which the surface ore alone is estimated at 4.6 million tons -- a market value of $700 million. Considering that the short term revenue opportunities are based on the surface area of 20 sq km, the remaining 630 sq km controlled by Britannia suggests an immeasurable value that will now benefit Micron's shareholders.
"Britannia's executive team possesses a wealth of knowledge in mining, commodities, and gold trading," Mr. Rudman continued. "I am confident that Britannia's influence will assist us thoroughly in exploring and monetizing the additional 16 gold permits we now maintain within the Dawson District of the Yukon and the 6 claims in the Whitehorse district."
Management recently expanded the company's gold claims to span over 1,000 acres within the Yukon, just 9 KM from Kinross's White Gold discovery. As funding becomes more readily available to Micron on the heels of the pending relationship, management is preparing to begin an extensive sampling work program.
Rudman concluded, "Merging with Britannia, a company that has the global reach, sizable projects, strong political relationships and significant investment interest is crucial to building the type of shareholder value we're committed to creating for investors. I firmly believe this merger will change the face of this company. We should see an enhanced management team, diversified corporate culture and an influx of considerable investment dollars."
About Britannia Mining
Britannia Mining is an explorer and developer of mining projects. The company actively trades mined mineral products to its existing customer base. The company is developing a high grade iron ore project in Malawi and holds an Exclusive Prospecting Licence (EPL) for iron ore over 650 sq km at Nthale, Blantyre. From magnetic imaging studies that have been completed over a test area of 20 sq km, the company has located a number of ore bodies that indicate this 20 sq km area could yield upwards of 40 million tonnes iron ore. The company intends to mobilise a drilling program, where upon completion the data will provide a resource definition of the 20 sq km test area.
Britannia Mining is in talks with a number of potential partners to implement a near term mining plan at Nthale Hill.
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