Mining companies in Guyana deal
Stabroek News
July 2, 2004
(BUSINESS WIRE) Vista Continental Corp. has announced that it has entered into an agreement with Miranda III Mining (Guyana) Inc. ("Miranda III"), for the purchase of a 40% interest in Miranda I Mining (Guyana) Inc. ("Miranda I").
Miranda I, through two deeds of assignment, has the rights to mine 31 river claims located along the Mazaruni River. Furthermore, Miranda I is the owner of two 10-inch Hydraulic Cutterhead Dredges among other assets. The primary minerals currently being mined by these dredges are gold and diamonds.
Vista Continental Corp. has agreed to purchase this 40% interest in Miranda I in exchange for 36,000,000 restricted shares of the company's common stock. The transaction is subject to close upon the completion of satisfactory due diligence of the assets of Miranda III and Miranda I. The transaction is scheduled to close on or before July 30. Vista believes that with this acquisition, the company may establish a long-term presence in Guyana.
Miranda III and Miranda I are indirectly owned and controlled by Vista Continental Corp.'s majority shareholder.