SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCBB:GTSO), an emerging gold exploration company, signed an option agreement today to explore a potential acquisition or strategic partnership with the mineral development company Chery Minerals, LLC. Currently, Chery Minerals is working to develop new gold resources in the African nations of Mali, Burkina and Ghana.
Under the terms of the agreement, GTSO will lock up the company for 45 days and begin due diligence toward a definitive agreement immediately.
Due in part to skyrocketing gold prices, GTSO is aggressively targeting gold exploration and development rights around the world. High average bullion prices have produced record profits for gold producers in recent months. With gold prices near all-time highs, mining and development of the yellow metal is becoming increasingly profitable—particularly in African nations where labor costs are low. A potential partnership with Chery Minerals could deliver valuable government and industry contacts in Africa, the world’s second-leading gold producer region.
“Chery Minerals has accumulated a number of small mining operations that are interested in pursuing new opportunities to have their product refined outside of Africa, where options are limited,” said GTSO CEO John Shearer. “The global demand for gold is at an all-time high and rising, and GTSO is fully committed to servicing that demand by developing new resources in emerging markets. Chery Minerals could prove crucial to helping us achieve our goals.”
GTSO plans to service a fast-growing global appetite for rare and precious metals to compete in an exciting sector that includes Goldcorp Inc. (NYSE: GG), Newmont Mining Corp. (NYSE: NEM), SPDR Gold Shares (NYSEArca: GLD) and Barrick Gold Corp. (NYSE: ABX).
To track gold’s meteoric rise and learn more about GTSO’s resource development initiative, please visit www.gtsogold.com/investors.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [www.GTSOgold.com] is a growth-oriented company exploring precious metals production around the world. To learn more, please visit our website at www.GTSOgold.com/investors.
Follow us on Twitter at http://twitter.com/gtsogold.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information 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, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.