Q Lotus Holdings Inc. Prepares to Optimize Benefits to the Company of Its Mining Rights
(firmenpresse) - CHICAGO, IL -- (Marketwired) -- 10/30/13 -- Q Lotus Holdings, Inc. (OTCQB: QLTS) ("Q Lotus").
The Q Lotus Holdings Inc. management today announced that it has completed its evaluation and prioritization and is in the process of negotiating funding to monetize its mining claims and initiating mining operations through an expanded international network of qualified expert parties.
The Company has completed the negotiation of an extension of its silica mining rights in Oregon that runs through January 31, 2014 at which time it intends to tender $5 million to the prior owners to secure permanent rights to those claims and will proceed with mining its silica in accordance with a profit-sharing arrangement with the prior owners.
The company also plans to solidify its gold-mining rights in Arizona through an anticipated joint venture with Leanne Brier, the owners of the gold mining claims. These mining activities would commence with the establishment and implementation of a pilot program through the expenditure of $1-$2 million.
At a Board Meeting last week, the company's Board of Directors authorized and directed Q Lotus' management to proceed with efforts to implement these programs.
Q Lotus has interests in 26 mining claims (as previously reported in SEC Filings) located in Arizona, Utah and Oregon. These claims include mineral rights for gold, silver, platinum, silica, and other diversified mineral assets.
This release contains forward-looking statements that are not statements of historical fact and are subject to risks and uncertainties. These statements relate to analyses and other information that are based on projections and expectations relating to our financial condition, results of operations, plans, objectives, business strategy, projected costs, future performance and business.. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts and may include words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project" and similar terms and phrases, including references to assumptions. The absence of these words does not necessarily mean that a statement is not forward-looking. All forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from those matters expressed in or implied by these forward-looking statements. You should keep in mind that any forward-looking statement made by us in this release or elsewhere speaks only as of the date on which we make it. New risks and uncertainties come up from time to time, and it is impossible for us to predict these events or how they may affect us. We have no duty to, and do not intend to, update or revise the forward-looking statements in this release after the date of this release, except as may be required by law. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may be disclosed from time to time in our SEC filings or otherwise.
Gary Rosenberg
Chairman & CEO
(312) 498-0301
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Datum: 30.10.2013 - 15:31 Uhr
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