Tantalex Announces Incorporation of a Subsidiary in the Democratic Republic of Congo and Future Business Opportunities
TORONTO, ONTARIO and FRANKFURT, GERMANY and WINDHOEK, NAMIBIA--(Marketwired - Dec 22, 2015) - Tantalex Resources Corp. (CSE:TTX)(FRANKFURT:1T0) (the "Company" or "TANTALEX"), is pleased to announce that it has finalized the incorporation of a wholly owned subsidiary in the Democratic Republic of the Congo ("DRC"), under the name United Materials Congo SARL ("UNITED MATERIALS"), in order to develop its activities in the DRC, moreover in the Katanga province, who is recognized as one of the most prolific mining regions in the DRC and to conclude protocol of partnership agreements with state ownership corporation of DRC.
UNITED MATERIALS will be a company focused on the production, study, development and exploitation of minerals and strategic metals, such as Tantalum, Tin and Cobalt.
In order to develop its activities in the DRC, UNITED MATERIALS already concluded several memorandums of understanding (the "Memorandums") with state local mining companies and mining cooperatives, who own mining titles and rights over research licenses or government properties and who are entitled to operate mining extraction (production site) on these properties.
These Memorandums provide description on the operations to be completed after their execution, such as the instalment of point of sales for the collected minerals, the purchase and commercialisation of minerals, but also the contribution of UNITED MATERIALS technicians and resources in order to develop the existing production site.
Dave GAGNON, Chief Executive Officer of TANTALEX, states: "I am very pleased about the conclusion of such contracts in the DRC by our subsidiary UNITED MATERIALS, and I believe that the different mining properties have a good production and extraction potential and that, slowly but surely, TANTALEX is moving from exploration to production notwithstanding the challenging markets for Junior mining companies. TANTALEX group is at a turning point of its existence."
About TANTALEX Resources Corporation
TANTALEX is a mining exploration and development company engaged in the acquisition, exploration and development of Tantalum and Niobium properties in Africa. The Company is listed on the Canadian Stock Exchange (symbol: TTX) and the Frankfurt Stock Exchange (symbol: 1T0).
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although TANTALEX believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, TANTALEX disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
Contact
Investor relations:
IR@TANTALEX.CA
Tantalex Resources Corp.
Dave Gagnon
Chief Executive Officer
+1 514-394-7476
dg@tantalex.ca
Kyle Appleby
Chief Financial Officer
+1 416-417-9176
ka@tantalex.ca
