VANCOUVER, May 17 /CNW/ - JBZ Capital Inc. (TSX-V: JBZ) ("JBZ") is pleased to announce that its wholly-owned subsidiary, Strata
Minerals Limited ("Strata"), has entered into a loan agreement (the
"Loan") with Fertoz Pty Ltd ("Fertoz") a private Australian company.
Fertoz has a focus on diversified fertiliser nutrients including
phosphate, potash and lime. Fertoz's project portfolio consists of 6
projects covering an area of approximately 35,000 square kilometres,
principally in the Northern Territory, Australia.
Under the terms of the agreement, Strata will advance A$500,000 by way
of a secured bridge loan maturing on September 30, 2011. A condition
of the Loan is that the Fertoz directors also advance A$500,000 on the
same terms and conditions as the Loan. The total proceeds of A$1
million will be used by Fertoz to fund their current exploration
program. Under certain circumstances, both Strata and the Fertoz
directors may be required to fund an additional A$500,000 each on the
same terms and conditions as the initial advance. Strata will advance
the loan from available working capital that will not compromise the
exploration programs currently underway on its existing projects.
As part of the Loan arrangement, Strata and Fertoz have agreed to a 4
week exclusivity agreement whereby both parties will work diligently
towards a broader, more comprehensive relationship between the two
companies. These negotiations and exclusivity period are in keeping
with Strata's broader corporate strategy of in-organic growth.
ON BEHALF OF THE BOARD OF DIRECTORS
JBZ CAPITAL INC.
President, CEO and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
Strata is an emerging, Australasia focused, agricultural nutrient
company. Based in Perth Australia, Strata is exploring for commercial
scale phosphate rock mineralization deposits. Strata also intends to
broaden its focus to other agricultural nutrients including potash and
lime. Armed with the objectives of becoming a supplier to the global
fertilizer industry and generating wealth for its shareholders, Strata
is currently advancing five phosphate exploration projects in Western
Australia and Queensland.
For further information on Strata Minerals, please refer to the
Company's website at www.strataminerals.com.
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements,
which reflect the expectations of management regarding the JBZ's
qualifying transaction. Forward-looking statements consist of
statements that are not purely historical, including any statements
regarding beliefs, plans, expectations or intentions regarding the
future. Such statements are subject to risks and uncertainties that
may cause actual results, performance or developments to differ
materially from those contained in the statements. No assurance can be
given that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits JBZ will
obtain from them.
SOURCE JBZ Capital Inc.
For further information:
Nigel Gellard, President & CEO
Tel: +61 4 0793 8630
Peter Kozicz, EVP & CFO
Tel: 1 905 815-9103