ERDL SHOWS ITSELF BIG
Wednesday 26th March 2003
Toronto, Ontario, Canada - Equity Retirement Distributors (Canada) Limited, an Ontario company, (ERDLF: Pink Sheets) announced today its conclusion of an all-shares purchase of an American company that holds
mineral claims estimated at US $71 billion, as of March 17, 2003.
The company's new president, Allan Sanford, said that the negotiations had taken most of 2002 to conclude and that the final agreement had been signed by both sides, effective January 24th, 2003.
"We're excited with Equity Retirement's future, now," Sanford said.
"For too long it had been sitting still waiting to catch a vision, acquire real substance, and start making its niche in the OTC marketplace."
Sanford explained that the terms of the all-shares purchase pegged the transaction value of company common stock at US $5.00 per share and the value of company preferred stocks at US $10.00 per share.
The American company acquired is Fire's Glow LLC (Oregon), holder of 1.5 square miles of mineral claims. Fire's Glow LLC's Managing Director, Rod Beyer, explained that previous chemical engineering work had been performed on a large number of samples taken from the ore body. "Those reports are most convincing that the vast alluvial deposit can be strip-mined by conventional earth-moving equipment," Beyer said. A chemist by training and former NASA rocket scientist, inventor, lecturer, technical author and life-long mining enthusiast, Beyer went on to explain that the head ore would then be treated by what he described as "a straight-forward magnetic concentration, milling and leaching beneficiation process to recover the precious
metals." Beyer stated that the estimated cost of recovery was less than ten percent of present metal evaluation.
Sanford emphasized the anticipated ease of the future mining process itself. "No mine shafts to sink. No risks of accidental explosions killing or maiming anyone. No canaries suddenly dropping dead in their cages. Just scoop the ore up and haul it away for processing. Rather dirt simple," he said.
Turning the topic back to ERDL's new asset strength, Sanford reported that the stated market value of the Fire's Glow asset is approximately US $71 billion - after the costs of extraction and the time value of money were computed, noting that many analysts are predicting that gold prices are likely to increase dramatically in both the short and medium terms.
"Mankind's treasuring of gold as a storehouse of solid value has been a fact of life for thousands of years," Sanford commented. "ERDL has decided to build a conglomerate founded on the enduring values of
precious natural resources."
Other commercially significant minerals present in the claims include Silver, Platinum, Palladium, Rhodium, Magnetite, Ilmenite plus saleable sand and gravel, all of which can be reclaimed in processing.
Sanford said that in addition to developing the Fire's Glow asset, the company is looking for additional acquisitions across a broad spectrum of business and industrial enterprises.
"ERDL is basically a conglomerate in its infancy," Sanford noted. "Although it was a big step forward, the acquisition of Fire's Glow was really only a first small step. You'll be hearing much more about us in the months and years to come."
Equity Retirement Distributors (Canada) Limited is listed on Pink Sheets (trading symbol ERDLF) and on the Belize International Stock Exchange under the symbols ERDLF (common stock) and ERDLP (preferred stock). ERDL's new Board Chairman is Thomas Swenson, Esq. The company's Treasurer is Joseph Cavness, CPA.
The company's first certified audit report is expected to be released sometime next quarter.
For additional information, please contact ERDL at 416 918 2209 or by
Email: swinick@ziplip.com.
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Forward-Looking Statements: Except for historical information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.
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