Firma Holdings Announces the Acquisition of IDS Smelter and Joint Venture with MX Gold Corp.
HENDERSON, NV--(Marketwired - February 10, 2017) - Firma Holdings Corp. (OTC PINK: FRMA) is pleased to announce that, through its subsidiary GracePoint Mining Corp, it has acquired a controlling interest in the IDS Smelter. The smelter will become a major component of the formation of GracePoint's new Durango Smelter Project. The Project is located in, what is known as, the "Golden Triangle" in Durango, Mexico. The Durango Smelter Project consists of a past-producing smelter, engineered to recover Gold and Silver, along with various base metals.
In addition, GracePoint is excited to announce it has entered in to a binding agreement, with MX Gold Corp. (TSX VENTURE: MXL) (FRANKFURT: ODV) (OTCQX: MXLGF), to acquire a 50% interest in the Durango Smelter Project. The agreement calls for scheduled payments totaling $1,525,000; and upon the project achieving a cumulative Net Operating Cash Flow of $10,000,000, a benchmark bonus payment of $2,500,000.
Mr. Francis Biscan Jr., Chairman and CEO of Firma Holdings Corp., stated, "Having worked with MX Gold's technical team on our Magistral Joint Venture Project, we are very pleased to have them involved with Durango."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Please read the full disclaimer at www.FirmaHoldings.com.
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