LAS VEGAS, Aug. 25, 2015 (GLOBE NEWSWIRE) -- Transnational Group, Inc. "Transnational" (OTC:TAMG), today announced that it has entered into a financing agreement with Exa Natural Resource LLC and its co-founder Jingru Wei.
The Company has received $200,000 in capital and a commitment for an additional $900,000 in mining equipment in exchange for 5 million restricted shares of Transnational's common stock and an 18-month option to purchase 4 million shares at a price of $0.45 per share issued to Mr. Wei, according to the agreement.
The Company will use the mining equipment provided by Exa Natural Resource, based in China, to extract gypsum and other natural resources from its Sandy Valley Project and additional properties which it is currently in negotiations to acquire.
The agreement also includes a provision whereby Transnational's Board of Directors has agreed to appoint Mr. Wei as a Director of the Company at its next board meeting, which is tentatively scheduled for September.
CEO of Transnational Group, Dr. Philip Dutoit, commented, "Transnational is excited to announce this new partnership with EXA Energy and Mr. Wei which has increased the Company's financial strength and will help bring all of our mining projects closer to production and profitability."
"This capital and equipment financing agreement will enable Transnational Group to begin operations on our existing gypsum properties as well as finalize the acquisition of other properties that we've been negotiating. We are confident that the mining equipment being provided to us will enable our mining projects to essentially operate as turnkey operations, enabling the Company's properties to become operational and generate sizeable revenue streams by the first quarter of our next fiscal year," added Martin Katz, CFO of Transnational Group.
About Transnational Group, Inc.
Transnational Group is a development stage holding company whose primary business is the acquisition and development of interests in the financial, consulting and natural resources sectors. The Company focuses on developing properties and business opportunities through partnerships and joint ventures while integrating management's best practices and expertise.
Investors: The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," or "inferred," which may not be consistent with the reserve definitions established by the SEC. U.S. investors are urged to consider closely the disclosures in our reports filed with the OTC Markets Group, Inc.
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control.
CONTACT: 888-959-7095 email@example.comSource:Transnational Group, Inc.