Eagle Mountain Corporation (OTCQB:EMTC) and Shandong Pusheng
Petrochemical Co., Ltd. (“SPPCL”) jointly announced today that they have
signed a formal Heads of Agreement to pursue mutually beneficial
management and financing projects in the oil, gas and natural resources
industries.
Chairman Jin Wang of SPPCL stated: “We are pleased to partner with Eagle
Mountain on the formation of this new venture, and to provide the
partnership with the financial and technical support required for the
sourcing and purchasing of crude oil and petroleum products beginning
with arranging for the financing through an initial credit facility and
related letters of credit required for the purchase of up to eight
Panamex tankers of Naphtha on a rolling commitment.”
EMTC will provide sourcing, purchasing and management of transportation
logistics for the oil, gas, and refined products to be delivered and
sold into the Chinese market.
Dr. Ronald Cormick, President and CEO of Eagle Mountain Corporation and
Chairman Jin Wang, jointly stated: “Eagle Mountain and SPPCL are excited
to announce this agreement to partner on global energy projects. EMTC’s
management team includes some of the top industry experts in sourcing
and managing large-scale natural resources and infrastructure projects;
and, SPPCL is highly experienced and well known for financing profitable
energy projects around the world. Our companies are confident that
market conditions are optimal to begin this partnership.”
All trading inquiries should be directed to: info@eaglemtc.com
About SPPCL:
SPPCL is an international oil and gas trading and development company,
globally engaged in a wide range of businesses in the oil industry, with
extensive partnerships with many State-owned companies. The company has
organized consortiums for multiple international projects in the oil,
gas, petrochemical and mining industries.
About Eagle Mountain Corporation:
Eagle Mountain is an originator and project manager for large-scale Oil
and Gas, other Natural Resources, and Infrastructure projects including
EPC consortiums and strategic partnerships. The Company is currently
focusing on acquiring projects and assets in upstream, midstream, and
downstream oil and gas industries as well as mining and infrastructure
development deals.
Safe Harbor Statement: Except for historical information contained
herein, the statements in this news release are forward-looking
statements. Forward-looking statements involve known and unknown risks
and uncertainties, which may cause a company's actual results,
performance and achievement in the future to differ materially from
forecasted results, performance, and achievement. These risks and
uncertainties are described in the Company's periodic filings with the
Securities and Exchange Commission. The Company undertakes no obligation
to publicly release the results of any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof, or to reflect the occurrence of
unanticipated events or changes in the Company's plans or expectation.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160114005640/en/
Copyright Business Wire 2016
Source: Business Wire
(January 14, 2016 - 8:45 AM EST)
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