Silver Falcon Mining, Inc. Receives Financial Term Sheet for $40 Million
22.01.2015 | Marketwire
Reconfirms Goldland Holdings Co's Lease & Royalty Agreement PaymentsBRADENTON, Jan 22, 2015 - Silver Falcon Mining, Inc. (OTC PINK: SFMI) announces having accepted a financial term-sheet which will provide funding up to $40 Million U.S. Dollars. The source will provide funds needed necessary to clear up financial liens on the Company and its subsidiaries.
Management and the funding source believe that the capital injection will enable the company to drill ore bearing targets throughout the Company's War Eagle Mountain mineral claims in Idaho. Monies will be used to finish necessary Sinker Tunnel improvements based on MSHA requirements. After logging drill results and plotting 3-D models, the Company will proceed with its delayed 43-101 publication and plans to move its trading platform to the TSX (Toronto Stock Exchange). Other working capital allocations will be utilized up to but not limited to early stage production on ore brought to the Diamond Creek Mill Facility.
Further, Management at SFMI has agreed with Management at GoldLand Holdings Co (OTC PINK: GHDC) to once again make necessary payments outlined in the 25-year lease agreement which had been deferred. SFMI has agreed with the funding source to pay the lease for properties leased from GHDC.
Pierre Quilliam, Chairman, states, "After months of negotiations, we feel that we have a comprehensible financial plan which fully capitalizes SFMI's second phase development. This $40M will be used to bring the Company back in full operation and enable it to evaluate the ore bearing potential of our mining claims on War Eagle Mountain."
SFMI's management team would like thank both its shareholders and employees for their patience and dedication as the Company seeks to close on this opportunity.
For further information, contact Mr. Richard Kaiser, #757-306-6090 or yes@yesinternational.com.
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward looking statements, and makes no guarantees of future performance, and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
Contact
Rich Kaiser
757-306-6090