SILVERDALE, WA, Dec 4, 2013 - CGrowth Capital, Inc. (OTC Pink: CGRA) (the "Company") is pleased to announce that it has completed the first third of the Contract for Hire Agreement (the "Contract") to provide for site cleanup, inventory cataloging, and asset liquidation of specified tools, equipment, and buildings on a 47 acre industrial site as well as another industrial site owned by the asset holder. As announced previously, the Company is overseeing the liquidation and site cleanups through its partner, Cedar Canyon Mining Corp. and a representative of the asset holders. The milestone in the Contract now allows the Company to open escrow on the 47 acre industrial site -- having exceeded the required $86,000 in escrow funds needed as a down payment to execute and close the real estate purchase and sale agreements.
"We could not be more pleased about the progress being made in Eastern Washington," stated Bill Wright, CEO of CGrowth Capital, Inc. "A lot of ground work has been laid over the past year and to finally see things coming together is exciting for all of us. The company is producing strong revenues, securing a home for its mineral processing, and is increasing its physical asset base -- we are very proud of the accomplishments and hard work being put forth."
The characteristics of the 47 acre industrial property include several warehouse buildings, an office, tailings ponds, open space, and a rail line on the property. Through November the Company and its partner have performed on time and on schedule -- generating over $217,000 in gross sales under the Contract with $143,663 in revenue to the Company. The Company is also preparing for its first delivery of processed dolomite to an agricultural buyer in the area for soil amendment. The deliveries are set to take place during the month of December.
For more information about CGrowth Capital, visit their website: http://www.CGrowthCapital.com
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. serves as a holding company for businesses and assets focused on all aspects of mining, minerals, and exploration. The processing of metal ore mining and oil and gas exploration both represent multi-billion dollar market opportunities which are capitalized through processing, sales, contracting and licensing of assets. CGrowth Capital's services and solutions are designed to assist land owners with monetizing undervalued assets by bringing commodities such as gold, silver, oil and gas, and other minerals to market. CGrowth Capital will focus on acquiring, leasing, or "claiming" land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of mining exploration and operations.
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.
CGrowth Capital, Inc.
SOURCE: CGrowth Capital, Inc.