Feb 12 2014
S2C Global Systems, Inc. and its wholly owned subsidiary S2C Global Resources ("the "Company") are pleased to announce the signing of an agreement to acquire 100% ownership of the San Cristobal Mine from Mineria Coliman S.A. The San Cristobal is a producing iron ore mine, located in the Mexican state of Michoacán, and is situated with strategic access to the Port of Lazaro Cardenas.
The Agreement calls for an initial payment of US$750,000, with an additional US$750,000 committed for new investment into the property over the next 12 months. Additional payments totaling US$4million over the next 48 months will be made by S2C Global to Mineria Coliman S.A. to complete the terms of the agreement.
Daniel Roth, S2C Global's President, commented that the completion of the San Cristobal acquisition is a milestone for shareholders of the Company, and management can now move forward rapidly with plans to bring the mine into full scale production. Also, additional details of the transaction, the mine's resource potential, daily throughput capacity and a timeline for the plan of operations will be released shortly.
S2C Global Resources recently announced the company had completed a US$1.8 million debt financing agreement with Aqua Segel Financial Group Inc., a Zurich based investment firm that provides financing solutions to emerging resource companies primarily operating in Latin and South America.
For further information regarding S2C Global (STWG) visit our website at: http://www.s2cglobalresources.com or contact us at (480) 305-2047
Source: http://www.s2cglobalresources.com/