Star Alliance International Corp. Signs Definitive Agreement to Acquire 51% Of the Honduran Gold Mining Company

Rhea-AI Summary

Star Alliance International Corp. (STAL) has signed definitive agreements to acquire 51% of Compania Minera Metalurgica Centro Americana S.A. (Commsa), which operates five gold mines in Honduras, effective January 1, 2022. The acquisition cost totals $7,500,000 in cash and restricted stock. STAR anticipates increased production and reduced costs through investments and its Genesis ore extraction process. This acquisition is part of STAR's growth strategy, expected to consolidate Commsa's financials and drive revenue from its operational mines.

Positive

• Acquisition of 51% of Commsa enhances STAR's asset portfolio.
• Potential for increased gold production due to cash investments and the Genesis ore extraction process.
• Lower production costs projected, leading to improved profit margins.
• Immediate revenue generation from five operational gold mines.

Negative

• None.

Star Takes Control effective January 1, 2022

WESTLAKE VILLAGE, CA / ACCESSWIRE / December 17, 2021 / Star Alliance International Corp. (OTC Pink: STAL) ("STAR"). STAR has signed definitive agreements to purchase 51% of Compania Minera Metalurgica Centro Americana S.A. ("Commsa") which owns and operates 5 gold mines in Honduras. STAR takes control effective January 1, 2022

These five operating mines are gold producing now, but production will substantially increase with the added cash we plan to invest and the use of our Genesis ore extraction process. Production costs will be considerably lower and gold recovery will increase dramatically. The cost of this acquisition, including working capital, is $7,500,000 in cash and restricted stock of STAR.

Richard Carey, Chairman and CEO of Star Alliance International, commented, "This acquisition is a major step forward in the growth of our Company. From January 1, 2022 forward, we will be consolidating the financials of Commsa and generating revenue from the operating mines. Our fantastic acquisition team has worked tirelessly to make this transaction happen. We are looking forward to 2022. Keep watching, more news will be released as it becomes available."

About Star Alliance International Corp.

Star Alliance International Corp. ("the Company", "we", "us") was incorporated in the State of Nevada on April 17, 2014 under the laws of the State of Nevada.

In August 2019, following a change in control, the Company acquired the mining claims, buildings and equipment from Troy Mining Corporation. The Project is located at the base of the "gold mother lode" in one of the three major vein belts where the greatest concentration of minerals settled over the years in California.

Since August 2019, although delayed by Covid 19 and the problems created by the fires in California last year, the Company has worked with the government departments so that a plan of operation of the mine can be submitted and approved.

Our gold estimates have been confirmed by geologists showing significant reserves of gold located in veins within the areas that are covered by our mining leases.

While primarily a gold recovery project, the geologist and assay reports indicate the amount of recoverable silver available in quantity is equal to that of gold which adds significantly to the bottom-line profit.

The Company plans to commence mining as soon as is feasibly possible.

Safe Harbor and Informational Statement

This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.

The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statement is not a guarantee of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's statements and reports filed with the OTC Markets. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.

For more information, contact Richard Carey

E Mail: info@staralliancemines.com

Web Site: staralliancemines.com

Twitter: @staralliancein1

SOURCE: Star Alliance International Corp.

View source version on accesswire.com:
https://www.accesswire.com/678228/Star-Alliance-International-Corp-Signs-Definitive-Agreement-to-Acquire-51-Of-the-Honduran-Gold-Mining-Company

FAQ

What acquisition did Star Alliance International Corp. announce on December 17, 2021?

Star Alliance International Corp. announced the acquisition of 51% of Compania Minera Metalurgica Centro Americana S.A. (Commsa), which operates five gold mines in Honduras.

What is the total cost of Star Alliance's acquisition of Commsa?

The total cost of the acquisition is $7,500,000 in cash and restricted stock.

When does Star Alliance take control of Commsa?

Star Alliance takes control of Commsa effective January 1, 2022.

What impact is Star Alliance expecting from the acquisition of Commsa?

Star Alliance expects to increase gold production significantly and reduce production costs through investments and its Genesis ore extraction process.

How will the acquisition affect Star Alliance's financials?

The acquisition will allow Star Alliance to consolidate Commsa's financials and generate revenue from its operational mines starting January 1, 2022.