Electra Stone Limited: Expands the Scope of Letter of Intent
09.06.2016 | Accesswire
VANCOUVER, June 9, 2016 - Electra Stone Ltd. (TSX Venture: ELT) ("Electra") announced today that it has revised the Letter of Intent ("LOI") with D&P Advisors of Kuala Lumpur, West Malaysia as the first step of developing a contemplated Joint Venture, originally announced May 19,2016. Under the revised LOI, D&P advisors have selected Electra stone's 100% owned subsidiary, Vancouver Jade Holdings (HK) Limited to be the exclusive supplier of BC Nephrite Jade, Jade products as well as precious and semi-precious stones and all other minerals to be marketed and sold through D&P 's global on line e-commerce platform. The BC Nephrite Jade products will be marketed and sold under the Company's consumer brand "Vancouver Jade" and will be part of a Product Portfolio of dozens of products including raw jade, sculpture, ornaments, jewelry as well as customer order products.About Electra Stone
Electra Stone Ltd. is building a vertically integrated public Nephrite Jade mining, trading & marketing company. Electra is focused on international market growth and trade of Nephrite Jade from British Columbia into Asian markets with a specific focus on China. Electra also continues to operate its Apple Bay alumina-silica quarry on Vancouver Island, which has been in continuous operation since 2003.
For further information and sales enquires on Electra Stone Ltd. please visit www.electrastone.com
Or contact: Tyler Lowes at tyler@electrastone.com or 604-620-8589.
On behalf of the Board of Directors,
"John Costigan"
President and Director.
Forward Looking Statement: This document contains forward-looking statements. Forward looking statements in this news release include completion of a joint venture with D&P Advisors and successful sales of jade and other mineral products on D&P advisors platform. Forward information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Factors which may prevent the forward looking statements from coming to fruition include that we may not agree on terms with D&P Advisors to complete a joint venture and we may complete contracts to carry out our announced plans. Even if we do complete contracts, we may not be able to finance our plans, markets may not develop as expected, we may not be able to complete requirements to sell jade products through our subsidiary Vancouver Jade, and competitors may sell better or less expensive products and take our expected market share. Forward-looking information is provided as of the date hereof and is based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. We assume no responsibility to update, or revise them to reflect new events or circumstances, except as required by law. For a detailed list of risks and uncertainties as it relates to Electra Stone Ltd., please refer to the Company's 2015 financial statements filed with SEDAR.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.