Catalyst Resource Group Provides Corporate Update
(firmenpresse) - LOS ANGELES, CA and VIENTIANE, LAOS -- (Marketwire) -- 04/16/12 -- Catalyst Resource Group (OTCQB: CATA) (PINKSHEETS: CATA), a company engaged in innovative processing technologies to extract gold and platinum group metals, today announced that Laos Minerals Mining, Inc. and the Company have mutually agreed to terminate the Asset Purchase Agreement dated March 3, 2012 with respect to the gold concessions in Sanakham District, Vientiane Province, Lao People's Democratic Republic due to technicality reasons.
Both companies have diligently reviewed the circumstances and new developments related to this transaction and decided that it is in the best mutual interests to rescind the agreement in its entirety. In the meantime, the Company has been working with investor groups to close the initial funding tranche in order to begin producing concentrates of gold and platinum group metals using the Company's proprietary processing technologies as well as negotiating with other potential acquisition targets in the area of precious metals.
On a separate note, the Company has recently appointed Dave Banerjee CPA to be the new independent auditor for the Company. Due to the change of auditors, the Company has experienced a delay in the filing of its 10-K report for the fiscal year ended December 31, 2011 but will endeavor to submit this report with the Securities and Exchange Commission as soon as possible.
The Company will hold a conference call at 04:30 P.M. EDT on Friday, April 20, 2012. To participate in this conference call, dial +1-605-475-4700, access code 597644#.
There will be a session for live questions and answers; however, priorities will be given to individual shareholder questions submitted at least one day in advance via email to
About Catalyst Resource Group
Catalyst Resource Group is engaged in innovative processing technologies to extract and process gold and platinum group metals. Website:
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Contact:
Henry Fahman
714-843-5455
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Datum: 16.04.2012 - 07:25 Uhr
Sprache: Deutsch
News-ID 1103206
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LOS ANGELES, CA and VIENTIANE, LAOS
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Kategorie:
Commodity Chemicals
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