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Canada Business News and Press Releases
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(EMAILWIRE.COM, September 09, 2010 ) Montréal, Québec - On today's ThePennyTrade.com (http://www.Thepennytrade.com) alert B2Digital (Pink Sheets: BTDG.PK), Inc Paul LaBarre, CEO, President and Stéphane Leblanc, President of Firma Gold Inc are pleased to jointly announce the companies have entered into a binding addendum to the LOI signed September 6, 2010 with respect to the mining exploration leases owned by Firma Gold Inc. in Landrienne, Quebec. According to Firma Gold, the gold reserves on the property are 1.5 million ounces.
Stéphane Leblanc, President of Firma Gold, Inc. said "Based upon an NI 43-101 technical report drilled to 50 meters, the geologists have estimated gold reserves of over 1.5 million ounces. We are excited about this potential Joint Venture with B2Digital and look forward to working with them." Mr. Leblanc continued, "The properties are in the Val D'Or and Malartic regions both of which are well known to be extremely rich in gold."
As per the LOI, both parties agree to enter into a formal Joint Venture Agreement on or before October 15, 2010. Under the terms of the Joint Venture Agreement, B2Digital, Inc. will be responsible for the funding, exploration, operation, and disposition of the Firma Gold properties. In return, B2Digital, Inc. will receive 90% of the net profit after deduction of capital or operating costs incurred in their role as JV partner. Firma Gold
will receive 10 percent of the net profit under terms of the Joint Venture Agreement.
B2Digital, Inc. President, Paul Labarre, stated “We are excited to introduce our shareholders to properties of this caliber. As a result of our relationships in the industry, we are able to enter into Letters of Intent to Joint Venture on properties like these owned by Firma Gold.”
About B2Digital
B2Digital is dedicated to seeking acquisitions and joint ventures within the resource sector and in particular mining properties that contain gold and silver reserves.
Management of its subsidiary has many years of experience in the exploration and operations of mining assets. B2Digital is currently in the process of divesting itself of itÂ’s technology assets. More information on B2Digital can be found at www.b2digital.us, www.castlecreeksilver.us.
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This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result certain risk and uncertainties, including but not limited to those detailed from
time to time in the Company's filings with Pink Sheets.com. Mining projects are subject to numerous risks factors including changing regulations, volatile commodity prices, and others factors that may preclude production should commercially viable reserves be established on a property and exploration plans dependent on funding and approval of any required permits.
Contact: For B2Digital
Atlanta Capital Partners, LLC
David Kugelman
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This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result certain risk and uncertainties, including but not limited to those detailed from time to time in the Company's filings with thepennytrade.com. Mining projects are subject to numerous risk factors including changing regulations, volatile commodity prices, and other factors that may preclude production should commercially viable reserves be established on a property and exploration plans dependent on funding and approval of any required permits.
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