NEW YORK, July 17, 2013 /PRNewswire/ — Paradigm Resource Management Corporation (“Paradigm Resource” or the “Company”; OTCBB: PRDC) is pleased to announce that it has signed a memorandum of understanding with AMSA Development Technology Co. Ltd., the major shareholder of TOSS Plasma Technologies Limited (“TPT“), to acquire a strategic equity interest in TPT.
Founded in 2003, TPT has developed a proprietary technology and processing system, using high temperature (>8,000oC) radio frequency plasma technology, to extract precious metals from certain types of complex ores. TPT is headquartered in Tokyo with a pilot plant and research center based in Yamagata prefecture in Japan.
“Our goal is to pave the way for mining companies to tap into hidden, untapped and undervalued assets in complex ore mines that may or may not have been excavated,” stated Mr. Takanori Ted Ozaki, TPT‘s Founder and CEO. “This will have a major structural impact on the mining industry. Complex ore mines of little value can transform into valuable assets with the application of TPT‘s technology.”
TPT has spent most of its efforts to-date on R&D, sourcing and selecting complex ores, and establishing a pilot plant to perform ongoing sample ore processing and demonstrations. The processed sample ores are sent to renowned laboratories for independent assays of gold, silver, and other PGM metals. TPT‘s target market is a traditional industry with an abundance of complex ores containing “latent” precious metals that have not been exploited due to technical limitation of available minerals processing technologies. The RF Plasma technology provides the technical breakthrough that has been validated by the phenomenal post-processing assay results on recovered precious metals from select complex ores.
According to Mr. Ozaki, “TPT is now entering the market commercialization phase and the business opportunity we present is most compelling. Our technology is brilliant, unique and without any known competition. It is also a green technology with no environmental hazards. The target market is a captive market and we hold the key to it.”
“We have already seen good test results from complex ores found in mainland China, Indonesia and Myanmar. We are very confident that we can identify more and more complex ores, especially in regions that are rich in mineral resources.”
Paradigm Resource will own 30% of the outstanding shares of TPT in exchange for 20% (post-transaction) of newly issued common shares of the Company. Mr. Ozaki will be replacing Mr. David M. Price as the new Chief Executive Officer of Paradigm Resource while Mr. Price will remain with the Company as executive director. The transaction is expected to close on or before July 31, 2013.
About Paradigm Resource Management Corporation
Paradigm Resource Management Corporation (OTCBB: PRDC), is a publicly traded U.S. mining and natural resource management company headquartered in Rockville, Maryland. The Company is currently pursuing opportunities for acquisition targets in mining and natural resources with a focus on new technology and applied materials. Paradigm Resource‘s commitment to asset growth and increased shareholder value will be sustained by the development of highly prospective projects and acquisition of viable resources.
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on Paradigm Resource Management Corporation predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, consumer and business consumption habits, the ability to fund operations and other factors over which Paradigm Resource Management Corporation has little or no control. Such forward-looking statements are made only as of the date of this release, and Paradigm Resource Management Corporation assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in Paradigm Resource Management Corporation Form 10-K for its fiscal year ended December 31, and other documents filed from time to time by Paradigm Resource Management Corporation with the Securities and Exchange Commission.
Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact email@example.com.: Press Release Japan