The Quinto Mining Corporation -- Announcement.Business Editors & Mining/Metals Writers DELTA, British Columbia--(BUSINESS WIRE)--April 6, 2000 The Quinto Mining Corporation (The Company) (CDNX CDNX See Canadian Venture Exchange (CDNX). :QU.)(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:QUITF)is pleased to report that it has purchased the Pilot Plant Building in Lumby, BC, which it has had under lease since April 1994. For the past several months the Company was unable to renegotiate re·ne·go·ti·ate tr.v. re·ne·go·ti·at·ed, re·ne·go·ti·at·ing, re·ne·go·ti·ates 1. To negotiate anew. 2. To revise the terms of (a contract) so as to limit or regain excess profits gained by the contractor. a long-term lease to complete preparations for bringing the Lumby property into production, therefore it was decided to purchase the facility outright. The Company was working toward having this issue resolved prior to the end of 1999 and commence production soon thereafter, but lengthy, and at times acrimonious negotiations made this start date difficult to achieve. George Hawley recently visited the Pilot Plant and Laboratory operations in Lumby, BC to ensure readiness to proceed with the necessary steps to commence production. To that end, Hawley and Quinto's Metallurgist are coordinating the purchases of the outstanding machinery needed to equip the plant in preparation for Quinto's entry into new highly value-added markets. Currently, Quinto possesses a strong financial position while remaining debt free. The Company continues to have sufficient capital to satisfy all of its foreseeable fore·see tr.v. fore·saw , fore·seen , fore·see·ing, fore·sees To see or know beforehand: foresaw the rapid increase in unemployment. financial requirements. On Behalf of the Board of Directors Per: "Tyrone Docherty" Tyrone Docherty, President For further information, please contact investor relations' toll free throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. at 888/875-1155 or email innovacapital@telus.net This press release was prepared by the Management of the Company who takes full responsibility for its contents. The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) neither approves nor disapproves of this press release. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion