SOURCE: CGrowth Capital, Inc.
SILVERDALE, WA--(Marketwired - Apr 9, 2014) - CGrowth Capital, Inc. (OTC Pink: CGRA) (PINKSHEETS: CGRA) (the "Company") is pleased to announce that it has closed escrow on a 47 acre industrial processing site in Stevens County, Washington. The property includes three tax parcels with 93,000 sq. ft. of industrial buildings, a 3,000 sq. ft. office, 600,000 sq. ft. of impervious surface, on site water systems, three phase power to all buildings, an evaporation pond and tailings pond, 19 acres of farm field open space for future product testing, and its own rail spur and rail scale house on the property. The Company is already performing specific enhancements and improvements to the property for its operations.
In addition to the industrial site, the Company also closed concurrently on a 20-year Mineral Lease that covers specialty items such as dolomite, terrazzo, silica, and all facets of construction, specialty, and agricultural rock. The lease includes 14 separately identified parcels, over 1,100 acres of land, and an estimated 300,000,000 tons of material. A valuation on the total lease value has yet to be determined.
"We feel like we just drafted a future hall of fame quarterback," stated an ecstatic Bill Wright, CEO of CGrowth Capital, Inc. "We may have a ways to go before we win a championship, but we just picked up a major asset to get us there!"
Mr. Wright continued, "The mineral leases that we acquired include a variety of colored rock and silica, along with the prized white dolomite. Dolomite and calcium carbonate is used in many different market segments, such as paper, polymers, building materials, and life science applications -- including pharmaceuticals and agriculture -- just to name a few. Even prior to closing the transaction we had buyers inquiring and purchasing the products."
"We are now fully geared and currently in talks with many agricultural companies to supply them with dolomite. With the boom in the medical cannabis market and the recent legalization of recreational cannabis in some western states, we are positioning ourselves within the infrastructure of the business to provide legalized farming operations and growers with the dolomite needed for their soil enhancement. There are many uses for dolomite within the farming subdivision but to add the use of dolomite as a soil enhancement to legal cannabis growers, we are now positioned to aggressively pursue business in that sector and expect business to ramp up at a steady pace as acceptance spreads throughout the United States."
The real estate purchase transaction was closed under a wholly owned limited liability company, along with a promissory note secured by a Deed of Trust. The Mineral Lease is based on a royalty payment. The Company pays the Lessor a per ton price for the variety of the assets removed from the quarries. The Mineral Lease requires a minimum royalty payment per year beginning January 1, 2015.
For more information about CGrowth Capital, visit their website: http://www.CGrowthCapital.com
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. serves as a holding company for businesses and assets focused on all aspects of mining, minerals, and exploration. The processing of metal ore mining and oil and gas exploration both represent multi-billion dollar market opportunities which are capitalized through processing, sales, contracting and licensing of assets. CGrowth Capital's services and solutions are designed to assist land owners with monetizing undervalued assets by bringing commodities such as gold, silver, oil and gas, and other minerals to market. CGrowth Capital will focus on acquiring, leasing, or "claiming" land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of mining exploration and operations.
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.