DGAP-News: Spectral Announces $2 Billion Acquisition Goal; Increasing Deal Pipeline Makes Focus on Best Projects Critical
(firmenpresse) - DGAP-News: Spectral Capital Corporation / Key word(s): Miscellaneous
Spectral Announces $2 Billion Acquisition Goal; Increasing Deal
Pipeline Makes Focus on Best Projects Critical
08.07.2011 / 20:00
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Spectral Announces $2 Billion Acquisition Goal; Increasing Deal Pipeline
Makes Focus on Best Projects Critical
Company ups its requirements for prospective projects, turns away projects
that do not meet growth criteria
SEATTLE, Washington (8 July 2011) - Spectral Capital Corporation (FCCN.OB)
(F3SN:F) announced today a bold goal of $2 billion in new projects by the
end of this summer. In order to achieve this goal, Spectral has begun due
diligence on five new projects that meet its rigorous, high growth criteria
and cancelled one project that does not. The company is committed to its
project criteria, which it believes will transform it into a leading
diversified natural resource company. The company's project criteria are:
(1) at least $500,000,000 in terminal value; (2) minimal investment
required to validate production potential; (3) balance the diversity of our
portfolio in terms of stage of development, region and resource.
'Ever since our initial success in securing two large projects quickly, we
have developed a deep network of industry partners through which bigger and
better projects are made available to us. Based on the strength of this
pipeline, we have set an ambitious goal of securing projects with $2
billion in terminal value by the end of the summer. After much thought and
discussion, we have decided to cancel investment in our Chita project.
Based on the most recent exploration data, we now believe that Chita would
require too high of an initial investment prior to resource validation. As
there is still significant interest in this project, we were able to return
the property to our partner and receive back all payments, including
geological expenses and our warrants. This project would have required a
$150,000,000 investment. We believe this same amount invested in the
projects in our pipeline would yield higher returns with lower risk.'
Concluded CEO Jenifer Osterwalder.
Spectral anticipates announcing details very soon on the five large
projects currently in due diligence. Once the $2,000,000,000 goal is
reached at the end of the summer, Spectral will be able to present to
institutional and strategic investors, a well-balanced portfolio of natural
resource projects that can provide a superior return on investment with a
considerably reduced risk profile. Spectral intends to close the first
stages of such financing by the end of the year.
About Spectral?Spectral is focused on the acquisition and development of a significant
portfolio of properties in the natural resource sector, mainly in the
Commonwealth of Independent States region. Spectral has developed a
pipeline of natural resource prospects to fuel its continued growth. The
company's acquisition objective is to obtain projects of at least
$500,000,000 in terminal value per project as well as a commodity and
regional diversity across its portfolio. Spectral is a US-based publicly
traded company and is listed on the US over the counter markets as FCCN and
Frankfurt exchange as F3SN. Spectral is a Nevada state corporation.
PRESS RELEASE FORWARD LOOKINGSTATEMENT:
This press release contains forward-looking statements (as defined in
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended) concerning future events
and the Company's growth and business strategy. Words such as 'expects,'
'will,' 'intends,' 'plans,' 'believes,' 'anticipates,' 'hopes,'
'estimates,' and variations on such words and similar expressions are
intended to identify forward-looking statements. Although the Company
believes that the expectations reflected in such forward-looking statements
are reasonable, no assurance can be given that such expectations will prove
to have been correct. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates that are inherently
subject to significant uncertainties and contingencies, many of which are
beyond the control of the Company. Actual results may differ materially
from those expressed or implied by such forward-looking statements. Factors
that could cause actual results to differ materially include, but are not
limited to, changes in the Company's business; competitive factors in the
market(s) in which the Company operates; risks associated with operations
outside the United States; and other factors listed from time to time in
the Company's filings with the Securities and Exchange Commission. The
Company expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company's expectations with
respect thereto or any change in events, conditions or circumstances on
which any statement is based.
Contact:
Jenifer Osterwalder
contact(at)spectralcapital.com
206-262-7820
End of Corporate News
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131253 08.07.2011
Datum: 08.07.2011 - 20:00 Uhr
Sprache: Deutsch
News-ID 34573
Anzahl Zeichen: 0
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Kategorie:
Business News
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