Mitchell Adam, President and CEO of Pan Terra Industries Inc., listed on the TSX Venture market announced on Thursday it has entered into a Letter of Intent to acquire 80% of the issued and outstanding common shares of Congo Namibia Trading, a private company incorporated in Namibia, Africa.
Pan Terra has also secured the management and consulting services of African mining, exploration and financing executives; Mr. Duane Parnham, former Chairman of UNX Energy Corp., Mr. Andre Neethling, Former Managing Director of Ongopolo Mining and Processing, and Mr. Arno Gunzel, former Exploration Manager of Ongopolo Mining and Processing.
Congo Namibia is a well established Namibian gold and copper exploration and development company complete with proven management, compliant black empowerment participation and operations based in Tsumeb, Namibia.
Congo Namibia holds 100% interest in five (5) significant Exclusive Prospecting Licences in the Tsumeb Copper Belt (the “Tsumeb Copper EPL’s”), a right to acquire a 51% interest in the Congo Namibia – Angola Nam Russia Limitada Joint Venture on Mining in Angola (the “Angola Gold JV”), and a right to acquire 50% interest in the Congo Namibia – Antrim Mines Zimbabwe (Pty) Limited Joint Venture on the Antrim Gold Prospect (the “Zimbabwe Gold JV”).
Mitchell Adam, President of Pan Terra stated “the ability of Pan Terra to attract successful professional mining executives of this quality has given the company the foundation to aggressively grow through project acquisition and development”.