Neutron Enterprises, Inc. diversifies its operations by entering into a Letter of Intent with Yellow River Mining Company
December 05 2003 - 10:04AM
PR Newswire (US)
Neutron Enterprises, Inc. diversifies its operations by entering
into a Letter of Intent with Yellow River Mining Company WHITE
ROCK, BC, Dec. 5 /PRNewswire-FirstCall/ -- Neutron Enterprises,
Inc. (OTCBB: NTRN - News) and Yellow River Mining Company have
entered into a letter of intent dated December 3rd, 2003, to
acquire all the outstanding shares of Yellow River Mining Company
in January, 2004. Neutron's board has decided that all negotiations
towards a potential acquisition should include an income-producing
asset to shore up the financial position of the company. President
Nanuk Warman stated, "We feel the time is right to expand into the
precious metals sector, the opportunity that we have been presented
in Ecuador is simply too good for us to pass up, considering the
recent upward trends of Gold prices experienced in the market."
Yellow River Mining Company is an Ecuadorian mining concern that
has been producing gold in its four Chilean processing plants in
Southern Ecuador for over five years. Its management team has
decided to agree in principal to a share sale to Neutron subject to
a short due diligence period of less than 60 days while it prepares
for an audit in Ecuador. The particular region in which Yellow
River Mining Company has its properties has been a gold producing
region for centuries, hence the province was named by the Spanish,
"Provicincia del Oro". SAFE HARBOUR STATEMENT "Except for the
historical statements contained herein, this news release presents
forward-looking statements that involve risks and uncertainties.
Although the management and officers of Neutron Enterprises, Inc.
believe that the expectations reflected in such forward-looking
statements are based on reasonable assumptions, they give no
assurance that their expectations will be achieved. Certain risks
and uncertainties inherent in the company's operations include
political, economic, environmental and geological issues, including
but not limited to, the continued need for additional capital, the
competition within the technology industry, currency fluctuations
and other risks detailed from time to time in the company's
periodic reports filed with the British Columbia Securities
Commission and the United States Securities and Exchange
commission." DATASOURCE: Neutron Enterprises, Inc. CONTACT:
Corporate Contact: Nanuk Warman, (604) 535-3955
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