Port of Call Online Inc (POCO) of Yuba City, CA has signed an assignment of purchase agreement to acquire a 100% undivided interest in the Snow White Pozzolan Mine from US Mine Corp of Cameron, CA. The property includes 280 acres of land, comprising 80 acres of railroad land and 200 acres of US Bureau of Land Management land that contains mineral rights and water rights. Funding for the acquisition will come from funds borrowed from an affiliated entity. A Scott Scott Dockter, the CEO of both POCO and US Mine, stated, Our announcement today of the acquisition of the Snow White mine advances our previously stated focus on acquisition, development, mining and full-scale exploitation of industrial mineral and natural resource properties in the U.S. We are in the process of introducing product samples to a number of prospective key industry customers in the California cement industry. We believe this acquisition presents the company with significant upside potential with respect to booking new, long-term offtake and sales agreements as we establish ourselves in the California cement community.
Volume 28 issue 23