Yahoo Finance Star Alliance Finalizes the Terms of the Acquisition of 51% of the Genesis Environmentally Safe Gold Extraction System and Intellectual Property.
WESTLAKE VILLAGE, CA / ACCESSWIRE / March 1, 2023 / Over the last twelve months Star has been completing its due diligence on the Genesis gold extraction system. We are now excited to confirm that the Genesis pilot program has been extremely successful. The system is currently processing 6000 tons of ore daily. Of the 6000 tons processed, 2000 tons of gold bearing oxide ore is producing 2 grams of gold per ton, (approximately 142 ounces with a current value of approximately $255,000) every 24 hours, at its gold mine testing site.
Furthermore, the extensive work by our partner and inventor has resulted in confirmation that the Genesis system will work on complex ores (including coal tailings) as well as Oxide ore.
Based on the above successful pilot program that is ongoing, Star has agreed the terms to purchase 51% of the Genesis program. The cost for the patents will be $5,100,000 with an agreed $5 million of initial working capital to build Genesis machines. The agreement states that Star will provide at least $2 million working capital by July 31, 2023 and also $2.5 million towards the cost of the patents (by September 30, 2023) with the balances due within 12 months. If Star does not meet these milestones, The seller has the option to buy back the 51% for $100.00 plus any money invested spread over 3 years.
Star has plans in place to raise the necessary funds to manufacture at least one new Genesis system as soon as possible. The acquisition of Genesis significantly improves Star's ability to raise the funds necessary for this transaction and others within the Star group of companies.
This equipment will be located at a tailing site in the US, so that the mining community can see this equipment in action, extracting gold and other precious minerals.
Richard Carey, Chairman of STAL, commented, "Although I have always believed in this equipment, we wanted the pilot program to be active for a couple of months to be sure of the veracity of the claims. Now, with this extensive proof that the equipment operates as was promised, we are finalizing the purchase agreement. This Genesis environmentally safe equipment extracts up to 98% of the gold or other minerals from the ore or tailings efficiently and within 24 hours. We can now begin the process of generating revenues from the sale of this equipment and its continuing royalty payments."
Juan Lemus, the principle who developed this innovative system stated, "I am excited that we have closed this transaction with Star. We are continually improving this equipment so that it can process more ore on a daily basis. We, together with Star, will bring experienced and recognized geologists and engineers to see our pilot plant operating. We anticipate huge demand once we introduce our equipment to the mining community."
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, Guatemala and Nigeria.
Star's assets include gold mines in California and Honduras with gold and lithium mines in Nigeria. In addition, Star searches out innovative new technologies that are eco-friendly including "Genesis."
We have now agreed and are closing the purchase of 51% of the Genesis gold and other minerals extraction system. This 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.
We anticipate 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.
It is Star's goal to become a very well-rounded enterprise with sufficient 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.
For more information, contact STAL.
E Mail: info@staralliancemines.com
Web Site: staralliancemines.com
Twitter, @staralliancein1
SOURCE: Star Alliance International Corp.
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