SPXA LOI Spokane, Washington, Feb 04, 2015 (Filing Services Canada via Comtex) -
Spokane, Washington (FSCwire) - SpectrumDNA, Inc. (OTC Pink: SPXA) announced today that it executed a non-binding letter of intent to acquire all of the ownership interests in each of Cannon Resources, LLC, Cannon Resources Holdings, LLC, (collectively referred to as “Cannon”) and Bik Air, LLC (“Bik Air”).
Cannon is a gold producing placer mining operation located in the north-central Alaska Range, approximately 50 air miles south of Fairbanks, in the Bonnifield Mining District. Cannon holds 173 State of Alaska mining claims covering 8,720 acres, and since initiating production during the 2011 mining season, Cannon has produced 12,479 troy ounces of gold, with production costs ranging from $450-$670 a troy ounce. Bik Air owns two Cessna aircraft, a 182A Skylane seating four persons and a 206 Cessna seating six persons. The two aircraft are utilized for general transportation purposes.
Assets to be acquired include a mining camp which comfortably accommodates up to 40 personnel with lodging, dining, showers, restrooms, laundry, a secure gold room and other physical structures. Ample water supply is available from surface sources and power is produced on-site by generators. Heavy duty mining equipment includes four bulldozers (a D6, two D8's, and a D9), six rock trucks (35/40 ton), four excavators, four loaders, spare parts inventory, and significant other mining equipment to include a 500 yard per hour wash plant. Permitting and claims filings are all current for the upcoming 2015 mining season.
About SpectrumDNA, Inc.
SpectrumDNA, Inc., currently considered a “shell company” by SEC rules and regulations, intends to operate in the gold mining industry, with a primary focus on the acquisition and development of operational small-scale gold producers. We seek acquisition candidates and/or joint venture partners that have a verifiable history of economic production but often lack the professional geological expertise and capital to fully extrapolate and exploit the true economic potential of a given project.
Forward-Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance or achievements to differ materially from those expressed in, or implied by, these forward-looking statements. Except as required by law, the Company does not undertake any obligation to release publicly any revision to any forward-looking statements to reflect events or circumstances after the date hereof.
News 
Market Data 
Discover 
