CITADEL ACQUISITION GROUP INC. ("Citadel" or the "Company"), is pleased to announce the completion of its equity crowdfunding on vested.ca. This raise was completed to facilitate Citadel’s ability to enter into a Memorandum of Understanding (“MOU”) to form a joint venture (“Transaction”) with Jex Technologies Corporation (“JEX”), a Nevada corporation which is a service company focused in the mining sector and more specifically in the improvement of heap management in leaching operations in base and precious metals mines – metals recovery, heap stability and remediation.
The Company’s strategy is to initiate a public listing in the future on the Canadian Securities Exchange, which it believes will result in substantial value creation for its shareholders along with significant, near-term cash flow for the Company.
JEX recently completed agreements to globally commercialize patented technology comprising a unique and revolutionary treatment method for large heap leach mining operations.
JEX has already made great strides generating projects in Mexico, Australia, Peru and Turkey, among other areas, in addition to previous operations using the technology in Mexico, Turkey and the U.S.
JEX is expanding the previous business operated by Dr. Thom Seal, the inventor and Chief Technical Officer of JEX. In conducting its expanded operations, JEX senior management includes Dave McMullin, CEO, who has significant precious metal and copper project development, construction and operating experience; Mark Shonnard, a former operations executive at Magma Copper and BHP; and George Young, former General Counsel of Bond International Gold and a mining executive with significant experience in developing mines internationally.
The above plans and the Transaction are all subject to a number of conditions precedent being satisfied, including due diligence, financing, any required regulatory approvals, and the finalization of definitive agreements. There is no guarantee the Transaction will be completed as contemplated, or at all.
For more information contact:
Citadel Acquisition Group Inc.
President & CEO
For technical inquiry contact:
JEX Technologies Corporation
David McMullin, CEO
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Statements regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that the Company has limited or no operating experience, and future operational results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements.
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