MESA, Ariz., Dec. 7, 2010 (GLOBE NEWSWIRE) -- B2 Digital, Inc. (Pink Sheets:BTDG) is pleased to provide an update to its shareholders with respect to its activities since entering a joint venture agreement with Firma Gold.
- On September 13, B2 Digital announced it had entered into a joint venture agreement with Firma Gold. The Definitive Joint Venture Agreement pertains to the mining exploration leases owned by Firma Gold Inc. in Landrienne and Courville, Quebec.
- Under the terms of the Agreement, B2 Digital, Inc. assumed management control of the exploration leases owned by Firma Gold in Landrienne and Courville Quebec as the Managing JV Partner. B2 Digital became responsible for funding the exploration, operation, and, if required, the disposition of the Firma Gold properties. The terms of the agreement called for B2 Digital, Inc. to receive 90% of the net profit after deduction of any capital or operating costs incurred in their role as JV Managing Partner. Firma Gold will receive 10 percent of the net profit under terms of the Joint Venture Agreement. The properties are located in the Val D'Or and Malartic regions, both of which are well known to be extremely rich in gold.
- On September 14, B2 Digital announced today it had entered into preliminary discussions with an Asian investment fund which had expressed strong interest in investing up to $20 million dollars to accelerate the development of the mining leases in Landrienne and Courville Quebec. On September 15, B2 Digital announced its Board of Directors voted in favor of accepting an offer of $0.15 a share from a Major Investor Group for all outstanding shares of B2 Digital, Inc., with a closing date to be Oct. 15, 2010. On September 17 B2 Digital announced that the $0.15 offer received from Sino-Can Industrial Holdings Group Ltd., the Major Investor Group, had been amended to $0.04 per share to reflect current market conditions. On September 29, B2 Digital announced today that its Board of Directors, after reviewing the NI 43-101 feasibility study from Firma Gold used as Proof of Claims, had recommended a price of $0.10 per share as a fair value.
- On October 6, B2 Digital announced it had been granted an Option to add 38 more mining claims in the Courville Township to the existing Joint Venture Agreement between both companies. These claims are adjacent to the existing 4 large claims that were included in the NI 43-101 Technical Report for Firma Gold's Courville property. B2 Digital is required to make two installments to secure the option to these claims.
- On October 27, B2 Digital announced that its directors had approved a 10% stock dividend on the common stock. As of today, this dividend has not been paid. B2 Digital, Inc. has filed the Issuer Company-Related Action Notification Form with FINRA in compliance with Rule 6490 and SEA Rule 10b-17. Management has had five discussions with FINRA, which also included the transfer agent, and is waiting for approval from FINRA. We will keep shareholders updated on this dividend.
- On November 30, B2 Digital announced its Board of Directors voted in favor of accepting an offer of $0.04 a share from Sino-Can Industrial Holdings Group Ltd. for all outstanding shares of B2 Digital, Inc. On December 1, B2 Digital, Inc. announced both parties agreed that the purchase of all shares should be concluded by December 20th, 2010.
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 David Kugelman 866-692-6847