BROOMFIELD, CO, September 12, 2013 -- NX Capital Co. (trading under the name of NexHorizon Communications, Inc.) (OTC Pink: NXHZ) announced an agreement to acquire a mining property in San Juan County, Utah.
This acquisition by subsidiary, Montrose Energy Group, Inc., represents a Milestone achievement for the company for many reasons:
1. Acquisition for cash and stock from 30 year industry professional which represents the first of many likely transactions. For strategic reasons and other transactions being considered at this time, the name of seller (veteran) is kept confidential, but will be disclosed in SEC filings in near future.
2. Developed mine, last operated pre-1970 – awaiting higher Uranium Prices.
3. Transaction is priced at believed discounted price providing for a final payment by way of a profit sharing arrangement in lieu of a higher initial price.
4. Our goal of acquiring significant reserves in advance of a future breakout in Uranium prices is furthered by our willingness to share profits as we have in this case.
Initial plans for our Utah Mining Property:
This existing underground mine, close to the White Mesa Mill, Blanding, Utah, represents an opportunity to permit, operate and expand an exploratory mine.
NX Capital Co. has available financing once SEC filings and OTC Markets are current and we will consider different investment levels in this mining property, beyond the base permitting expenses.
There is a tremendous value in the underground mine to begin with, having last mined before 1970, and depending on price of Uranium and results of exploratory mining. This represents a possible formula priced resale – values easily imputed by a future buyer.
FINRA clearance of name change is believed imminent after major opinion letter provided to FINRA by securities counsel on September 6, 2013.
Other plans and agreements:
Management signed $9,000 – 8 week development plan for high-end website www.sitewired.net
Management confirms direct long term CPA engagement – Adam Fenster + affiliated audit firm.
More news to follow, but with the Utah mining property purchase, we are in the Uranium Business.
Other business considered – Future cash flow plans – As NX Capital Co. plans to serve as an advocate to the Nuclear Industry and provide a global view of newly permitted facilities, it would naturally follow that we would strike up brokerage agreements to sell and/or represent micro-size nuclear facility developers.
Island Developments – The cost and burden of imported liquid natural gas, solar and the infrastructure involved would possibly cost so much, our idea of “turn-key” nuclear systems could be very cost competitive…. Powering everything from all electric housing and commercial developments to satellite systems. Bond financing available depending on politics.
For more information, contact:
Jeff Krupka President
NX Capital Co. f/n/a NexHorizon Communications, Inc.
1140 US Highway 287, Suite 400-305,
Broomfield, Colorado 80020
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with smaller reporting companies, including without limitation, other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
SOURCE: NexHorizon Communications, Inc.