MESA, Ariz., Sept. 17, 2010 (GLOBE NEWSWIRE) -- B2 Digital, Inc. (Pink Sheets:BTDG) announced today its Board of Directors has requested certain conditions be met by Sino-Can Industrial Holdings Group Ltd. pursuant to a resolution of its Board of Directors on September 16, 2010, to accept an offer from Sino-Can of $0.15 a share for all outstanding shares of B2 Digital.
The Board of Directors of B2 Digital, Inc. has requested Sino-Can Industrial Holdings Group Ltd. enter into a definitive merger agreement with B2 Digital and provide a non-refundable deposit of U.S. $1,000,000 prior to any due diligence being performed by either party.
Sino-Can has agreed to this condition. B2 Digital, Inc. will keep its shareholders apprised of when the signed agreement has been executed and when the U.S. $1,000,000. non-refundable deposit has been received.
On September 16, 2010, B2 Digital announced its Board of Directors unanimously approved a resolution to accept an offer of $0.15 a share for all outstanding shares of B2 Digital, Inc. The offer is contingent on Sino-Can Industrial Holdings Group Ltd. receiving official proof of the 43-101 claim and the performance of mutually satisfactory due diligence.
B2 Digital recently entered into a joint venture agreement with Firma Gold. Firma Gold's estimated reserves of 1.5 million ounces could have an estimated worth of $1,875,000 billion based upon the current price of gold. B2 Digital, Inc. will receive 90% of the net profit after deduction of capital or operating costs incurred in their role as JV partner. Firma Gold will receive 10 percent of the net profit under terms of the Joint Venture Agreement.
About B2 Digital
B2 Digital is dedicated to seeking acquisitions and joint ventures within the resource sector and in particular mining properties that contain gold and silver reserves. Management of its subsidiary has many years of experience in the exploration and operations of mining assets. B2 Digital is currently in the process of divesting itself of some of its technology assets. More information on B2 Digital can be found at: http://www.b2digital.us.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risk and uncertainties, including but not limited to those detailed from time to time in the Company's filings with Pink Sheets.com. Mining projects are subject to numerous risk factors including changing regulations, volatile commodity prices, and others factors that may preclude production should commercially viable reserves be established on a property and exploration plans dependent on funding and approval of any required permits.
CONTACT: Atlanta Capital Partners, LLC For B2 Digital David Kugelman 866-692-6847