WEST PALM BEACH, FL--(Marketwire - Oct 25, 2012) - FastFunds Financial Corporation (www.fastfundsfinancialcorp.com) (OTCQB: FFFC) announced today that it has signed a Letter of Intent to acquire a 50% ownership interest of the project "Twin Creeks Iron Project" located in the state of Wyoming in an option basis from Corizona Mining partners, LLC.
The following are summary description points related to the property:
- Currently composed of 13 unpatented lode claims (JH series). Planned to be expanded pending sample laboratory analysis results.
- Located in the Seminole Mining District, Carbon County, Wyoming. Sections 23, 24, & 25 T26N, R86W.
- The claims are located over an area over 3 kms long of outcropping Precambrian Banded Iron Formations (BIF) with Iron and potentially precious metal mineralization.
- Area previously had been staked in the past by Kerr McGee Corp. and a subsequent junior.
FastFunds Acting President Barry Hollander stated, "This proposed project is a very exciting long term opportunity given the fact that as the world wide economics improve, iron ore will play a major part in the infrastructure growth. The size and scope of this project is such that it could create tremendous potential."
Completion of this transaction is subject to customary conditions including, among other things, further due diligence, the negotiation and execution of definitive agreements, the approval of both company's boards of directors and or members, and any necessary stockholder or regulatory approval.
About FastFunds Financial Corporation
FastFunds Financial Corporation is a holding company in several business segments that is publicly traded on the Over-the-Counter QB under the symbol "FFFC". The Company is currently seeking new business opportunities to diversify and complement our current services and products, enhance our technical capabilities or otherwise offer growth opportunities for our stockholders.
This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.