Star Alliance International Corp. ("STAL") Signs Agreement for the Acquisition of 51% of the Genesis Environmentally Safe Gold Extraction System and Intellectual Property.
Star Alliance International Corp. (STAL) has finalized a 51% acquisition of the Genesis environmentally safe gold extraction system for $5.1 million. The payment structure includes 50% due by September 30, 2023 and the remaining balance within a year. Furthermore, STAL plans to provide $5 million in working capital for system construction by July 31, 2023. The Genesis system reportedly extracts up to 98% of minerals from various ores in under 24 hours, presenting a cost-effective alternative to traditional leaching methods. STAL aims to implement this technology across multiple mining operations, enhancing profitability.
- Acquisition of Genesis system expected to enhance mining profitability.
- Genesis system achieves up to 98% mineral extraction efficiency.
- Planned working capital of $5 million demonstrates commitment to growth.
- Initial payment of $2.55 million due by September 30, 2023 may create short-term liquidity pressure.
- The balance of $2.55 million and additional funding for working capital introduce financial obligations and risks.
WESTLAKE VILLAGE, CA / ACCESSWIRE / March 21, 2023 / The agreement to acquire
The cost of the purchase is
Star has made significant progress in the negotiations for the financing necessary to meet these targets.
The Genesis gold extraction system is an environmentally safe method of extracting minerals from multiple types of ore. The system is a low cost alternative to regular leaching, is safe for the environment and the reaction that extracts the minerals usually takes less than 24 hours. The system will extract up to
Richard Carey, Chairman of STAL, commented, "This is game changing technology. We will be using the Genesis system for our Troy and Honduras mines, for tailing piles nationwide and internationally including coal tailings, and for mines worldwide that, due to older extraction processes, are no longer profitable and can become profitable using the Genesis system. Our plans include joint venture agreements with many of these mine and tailing pile owners. We will continue to update on the progress as news becomes available."
About Star Alliance International Corp.
Star Alliance International Corp. ("the Company", or "STAL") was incorporated in the State of Nevada on April 17, 2014, under the laws of the State of Nevada.
Star Alliance International Corp is a Worldwide Holding Company with strong assets in the US, Honduras, and Guatemala.
Stal's assets include gold mines in California and Honduras. In addition, Star searches out innovative new technologies that are eco-friendly including "Genesis," our environmentally safe gold extraction system.
The Genesis gold and other minerals extraction system extracts minerals from oxide and complex ores in an environmentally safe manner.
Lastly, we have our patented Barotex™ Technology. Barotex is a fiber, manufactured from volcanic rock, that is incredibly light, stronger than steel, wood, carbon fiber, fiberglass, aluminum and Kevlar and is recyclable. The product can be used in many everyday applications.
The Company anticipates continued expansion of our efforts domestically and abroad, with a particularly keen focus on breakthrough separation and processing technologies for precious metals and rare earths, as well as other technologies or proprietary innovation.
It is Star's goal to become a very well-rounded enterprise with planned diversification, paired with a balanced approach, ensuring the very best possible results and the highest possible value for our shareholders.
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.
Contact:
STAL
Email: info@staralliancemines.com
Web Site: staralliancemines.com
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SOURCE: Star Alliance International Corp.
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FAQ
What is the significance of STAL's acquisition of Genesis?
How much is STAL paying for the Genesis acquisition?
When is STAL required to make payments for the Genesis acquisition?
What impact will the Genesis system have on STAL's mining operations?
What is the expected timeline for additional working capital for Genesis construction?
