Perihelion Global Completes Acquisition of 299 Acres From Meridian Land and Minerals, LLC Near Company's Patented Gold Mine
Perihelion Global (PINKSHEETS: PHGI) announced that the corporation has formally acquired a 251-acre parcel of land, including mineral rights and a previously unannounced additional 48 acres with active rail service from Meridian Land and Minerals, LLC located near the company's Patent Claim #5797 located in Box Elder County, Utah.
The 251-acre parcel is located near from the company's Patent Claim #5797 and has state highway access and active rail service through a 10-acre corner section of the property along with electrical power and water. The 48-acre parcel consists primarily of frontage for an active railroad. Patent Claim #5797 has been assayed in separate geological reports to have 1,277,950 oz of Gold deposits, currently worth in excess of $745 Million USD ($745,000,000.00).
Financial consideration to Meridian Land and Minerals, LLC for both the 251-acre parcel and the 48-acre parcel consisted of cash and restricted stock.
"The completion of this acquisition allows our company a strategic economic and operational advantage. We can now choose to either extract and process our precious metals on site, or use the property as a staging area to transport our raw ore or refined metals to market or other refiners; or combinations thereof," stated John H. Beebe, Chairman, Chief Executive Officer and President of Perihelion Global. Adds Beebe, "We now have complete flexibility to choose the most profitable way to extract and process our precious metals, combined with the flexibility of having several different existing modes of transportation on our property. We feel the wisdom of this acquisition will reap dividends for our company and shareholders for quite some time."
About Perihelion Global:
Perihelion Global focuses on the acquisition, development and management of technologies and strategic commodity reserves in the energy, natural resource and advanced communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of the 21st Century in environments that are mission critical in the global marketplace. For more information, visit: www.perihelion.com.
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