Mar 12 2015
Fidelity Holding Corp. Inc. ('Fidelity' or the 'Company'), a Las Vegas based general holding company, today announced it has purchased Polimetalica La Cachimba, a Sonora, Mexico based gold mine in exchange for 19.5% of Fidelity's outstanding shares.
La Cachimba is located in the Northwest corner of Mexico just south of the Arizona-Mexico border. Covering 65,000 acres of land, it neighbors the Newmont Gold Mine (La Herradura Mine) which has 5-6 million ounces of gold in reserve. La Cachimba is estimated to contain about 1.2 billion dollars' worth of gold according to a core sampling program implemented by Rick Tschauder, former Chief Geologist of Hecla Mine. Mr Tschauder was also directly responsible for the extraction of over 300,000 ounces of gold at the La Choya mines, located just 50 kilometers from La Cachimba. The acquisition is a sizable asset for Fidelity and the Company is currently interviewing mine managing companies to find a group capable of controlling and executing operations.
Fidelity has issued 800,000 shares of common stock, par value $.001, in exchange for all the issued and outstanding shares of common stock in Polimetalica La Cachimba Corp. The 800,000 shares represent approximately 19.5% of Fidelity's 4.1 million outstanding shares.
Mike Bozner, CEO of Fidelity Holding Corp., stated, "The acquisition of the La Cachimba mine represents a great milestone for the corporation. It adds substantial value to Fidelity and we are optimistic about future production. We are very excited to run more extensive core sampling programs to determine optimum drilling locations. With a business model based on growth through acquisitions, the La Cachimba Mine is truly an integral step for us."
About Fidelity Holdings Corp.:
Fidelity Holding Corp. is a general holding company formed with the specific purpose of owning or taking investment positions in high growth potential ventures. Its flagship subsidiary Rebel Resources, Inc., has developed proprietary advanced technology, which is focused on the recovery of heavy oil from mature onshore U.S. fields. Worldwide, heavy oil is twice the resource of conventional light crude oil, and it is estimated that as much as two-thirds of the oil in mainland U.S. reservoirs has been "left behind." Experts believe these abandoned wells could hold 377 billion barrels -- more than double the cumulative U.S. production to date. The Rebel thermal technology accesses and unlocks the door to this underexploited resource. It provides an economically friendly, low cost alternative for production without typical exploration and drilling cost. Visit www.rebelresources.com to learn more about this exciting company.
Source: http://www.fidelityholdingcorp.com/