Forming OreOmatic Mining of Cameroon Limited, with intent to join China’s Sinosteel $640 Million dollar Iron Ore Project in Kribi, Cameroon
Wilmington, Delaware Oct 26, 2022 (Issuewire.com) - Kristin Oloso, CEO of OreOmatic Mining, LLc ( ("OreOmatic" or the "Company") announced today that the Company has completed its previously announced joint venture transaction with NW Tech Capital, (OTC: NWTT) ("NWTT") to form a new joint venture company, OreOmatic Mining of Cameroon Limited (" OreOmatic Cameroon"), to jointly pursue the acquisition of forty percent (40%) ownership in Africa Mines PLC to then become a subcontractor of the $640 Million dollar China Sinosteel CAM Iron Ore project in Kribi, Cameroon set to begin extractions on January 1, 2023.
A letter of intent to purchase was sent to Africa Mines PLC owner Mr. Gabriel Dima on October 3rd,2022.
NW Tech Capital (OTC: NWTT) and Oreomatic Mining, LLC.today announced their partnership through a joint venture to bring together two leading names in metals mining to create an unrivaled force in ethical mining. This Joint Venture (JV) which was signed on the 9th of August, 2022 is a result of the desire of both companies to jointly pursue and acquire controlling interests in mining projects, particularly Lithium mining.
Mining operations commenced according to the terms of the agreement on August 9, 2022, and consisted of a combination of the companies' respective mining operations, assets, reserves, and talent.
"The focus of this Joint Venture is on projects that can sustain and increase lithium mining and we are confident that our investment will produce substantial long-term value," said Cedric Yengo, NW Tech Capital CEO. "
This agreement represents an innovative and effective way to generate long-term value from our joint assets and represents an important step forward in expanding value creation for our shareholders. Through the joint venture, we will also continue to pursue the highest standards in safety, along with responsible and meaningful engagement with our employees, communities, and other stakeholders," he said.
About NW Tech Capital
NW Tech Capital is a publicly traded diversified holding company(OTC: NWTT) that was founded in 1996. The company's long-term goal is to be the leader in the clean energy sector through lithium mining, carbon sequestration, and emerging new technologies. NW Tech is about businesses prospering through strong leaders and the independence of its subsidiaries.
About Oreomatic Mining, LLC.
OreOmatic Mining, LLC. specializes in the mining of metals used in the manufacturing of modern medical equipment. Oreomatic focuses on Lithium, copper, and titanium mining. The mining company aims to improve the quality of health care service by contributing to the sourcing of raw materials (like Lithium, Copper, and Titanium) used to manufacture essential medical devices and by supplying the processed alloy to the right medical manufacturers.
DISCLAIMER: Some of the information presented in this press release, including, without limitation, information related to plans and anticipated benefits in relation to the joint venture, and all other information relating to matters that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed. Factors that could cause actual results to differ materially from the outlook expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; adverse changes in liquidity or financial or operating performance; changes in the demand for our products or the end-user markets in which our products are sold and the other factors detailed from time to time in the reports we file with the SEC, including those described under "Risk Factors" in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws. Information on Cedric Yengo included in this release was provided by him.
CONTACT:
Amber Franklin
(725) 255-8895 ext 1001
Media Contact
OreOmatinc Mining, LLC
(725) 255-8895
1025 North French street Ste 480
Source :OreOmatic Mining,LLC
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