SOURCE: Plantro Venture Group Ltd.

September 15, 2015 10:46 ET

Plantro Venture Group Is Unwilling to Sign a Twelve Month Standstill Imposed by Anaconda Mining Given Only 3.5 Years of Mine Life Left

TORONTO, ON--(Marketwired - September 15, 2015) - Plantro Venture Group Ltd. ("Plantro") updates Anaconda Mining Inc. ("Anaconda") shareholders on its previous intent to make a formal Offer for all of the outstanding common shares of Anaconda.

Due to a non-negotiable twelve month Standstill obligation imposed by the Confidentially Agreement set forth by Anaconda's management and presumably the board of directors, Plantro is unwilling to perform any further detailed due diligence, with respect to Anaconda, which is required to enhance a formal offer and provide liquidity to shareholders.

Given at present Anaconda only has approximately 3.5 years of mine life remaining and due to the fact that for the year ended May 31, 2015, according to its recently released audited financial statements, Anaconda generated a of loss $2,774,766, Plantro is not in a position to make a formal Offer without further detailed due diligence.

Cautionary Information Regarding Forward-Looking Statements

Statements about the intentions of Plantro Venture Group Ltd. and the expected effects, timing and completion of the proposed transaction and all other statements in this release other than historical facts constitute forward-looking statements. These statements are not guarantees of future actions or performance and involve risks and uncertainties that are difficult to predict. The statements are based upon Plantro's current intentions, expectations and beliefs and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements, including, among other things, whether the conditions to the offer will be satisfied, general economic factors, business and capital market conditions, general industry trends, changes in tax law requirements and government regulation. There can be no assurances that any transaction will be consummated. Plantro disclaims any obligation to update or revise the information in this news release based on new information or otherwise, unless otherwise required by law. For information about Anaconda Mining Inc. please visit www.anacondamining.com.

SOURCE Plantro Venture Group Ltd.

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