NX Capital Company (OTC Pink: NXCP) announced that the Company and its wholly-owned subsidiary, Montrose Energy Group, Inc. have entered into an Agreement to acquire a uranium mining property in San Juan County, Utah. The purchase is to close on or about October 10, 2013. The purchase is for a combination of cash and the restricted common stock of NX Capital.
Montrose Energy Group will own, develop and operate the property, as an exploratory mine.
Management believes that using infrastructure already in place, the development costs of the property can be minimized and built upon previous work and research already performed. The mine is located in close proximity to a uranium mill at Blanding, Utah. The mill is essential to the conversion of uranium ore into its more refined forms -- particularly "yellow-cake," a commercially viable product.
"We are excited to announce the identification of and the pending purchase of a mining property," remarked Jeff Krupka, the Company's President. "This purchase is yet another step to the development of the Company's business plan and operations."
NX Capital Company is a Colorado based company intending to develop operations in the mining and energy industry in the western United States.
Forward Looking Statements
This press release may contain certain forward-looking statements 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with mining and energy exploration and development stage exploration companies including without limitation, other risks associated with private companies. At the time of the press release, the Company is not registered with the Securities and Exchange Commission (SEC) and does not have available for public dissemination its financial reports or other disclosure information.
For more information, contact :NX Capital Company 1140 US Highway 287, Suite 400-305, Broomfield, Colorado 80020www.nxcapitalco.comP: 303.469.3051F: 303.469.3054C: 213.321.9858
SOURCE: NX Capital Company