The Board of Epic Resources Limited (EPC) is pleased to advise that, in collaboration with Mr. Paul Kopejtka, who brings with him in excess of 22 years’ experience in the mining industry as well as a strong track record in facilitating the growth of a number of major publicly listed companies, the Company has entered into a conditional agreement to acquire an indirect 90% interest in 3 coal licences located in the Southern Antioquia region of Colombia. The Agreement sets out the terms and conditions upon which Epic agrees to acquire up to 100% of the issued shares in Carbones de Colombia SL, a company incorporated in Spain, which is 100% held by Ascot Equities Pty Ltd . Carbones Spain owns 90% of subsidiary company Carbones de Titiribi SAS, a company incorporated in Colombia, that in turn is the holder of the Licences. The Licences are located near the town of Titiribi in the Southern Antioquia region of Colombia, and is in close proximity to areas known to host high quality coal. The Company will issue 4,500,000 Shares plus pay $200,000 to the Vendor and will also reimburse the Vendor an additional $300,000 for cash costs incurred in securing the Licences.
“This is an exceptionally exciting transaction for Epic. This targeted acquisition provides the Company with an attractive entry into one of the most exciting and mineral-rich countries in the world and provides potential access to a commodity that has experienced strong demand growth as a direct result of the industrialisation of China, India and Brazil. Notwithstanding, that in securing this transaction, the Company will welcome Mr Paul Kopejtka to the Board who will bring with him in excess of 22 years’ experience in the mining industry that extends to both the Australian and overseas mining industry. Mr Kopejtka has a strong track record in facilitating the growth of a number of major publicly listed companies. The Company continues to focus on delivering shareholder value through the acquisition of projects and commodities that exhibit strong, sustained long-term demand growth.”
Epic Resources is an Australian-based exploration company that was initially established to acquire, explore, evaluate and exploit uranium-REE deposits and explore prospective uranium tenements and other minerals. Epic Resources entered into a Farm-in Agreement with Cazaly Iron Pty Ltd (Cazaly), pursuant to which the Company has a right to earn a 75% interest in the Quartz Hill Project. In June 2012 the Company acquired the McPhees Gold Project in Western Australia and is located within the Marble Bar Mineral Field, Western Australia. In addition to seeking to earn a 75% interest in the Quartz Hill Project and the McPhees Gold Project and as outlined in the Company’s Prospectus, the Company intends to pursue new projects in the resources sector, both in Australia and overseas, by way of acquisition or investment. These projects may include other types of minerals including, without limitation, coal, iron ore, copper, gold, manganese, tin, nickel, potash and tungsten.