HENDERSON, NV --(Marketwired - January 23, 2017) - Firma Holdings Corp. (OTC PINK: FRMA), through its subsidiary GracePoint Mining Corp., announces that, further to its news release dated October 25, 2016, MX Gold Corp. (TSX VENTURE: MXL) (FRANKFURT: ODV) (OTCQX: MXLGF) has paid all remaining installments, totaling $2.5 million USD, and has earned a 50% participating ownership interest and 45% net profit participating interest in the Magistral, Del Oro tailings project located in Mexico (the "Project").
The project includes a 500 TPD Dynamic Cyanide counter current system plant. Construction of the plant was completed in 2013, for approximately $4.5 million and is in excellent condition. It is unencumbered and it is estimated that it can be fully operational within 4 to 6 months. Additionally, the Project includes the exclusive rights to process the mineralized mill tailings.
Mr. Bert McPherson, President and COO of MX Gold, stated: "After conducting weeks of due diligence on site in Durango, Mexico, I am confident and excited with value the Magistral Project is going to bring to MX Gold. The company and its shareholders can look forward to us reporting on our progress from Durango in the weeks to come."
Mr. Francis Biscan Jr., Chairman and CEO of Firma Holdings Corp., stated, "As expected, there have been great synergies that have quickly developed between the Firma/GracePoint Mining team and the MX Gold team. Bert McPherson has brought great expertise to the project, and the work done, so far, has confirmed 2017 production plans and the ability to grow the project beyond its existing capacity."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Please read the full disclaimer at www.FirmaHoldings.com.