USCorp Terminates Joint Venture Agreement
02 Fevereiro 2011 - 7:58PM
Business Wire
USCorp (the “Company”) (OTCBB: USCS) announced today that
it has elected to terminate the Joint Venture Agreement between the
Company and Yasheng Group, a Chinese agricultural conglomerate. The
Joint Venture Agreement specified certain dates for providing the
initial funding for the Joint Venture which were not met. The Joint
Venture would have been owned 50 percent by each party with the
mining properties owned by the Company contributed to the Venture
upon the initial funding. As a result of termination of the Joint
Venture the mining properties continue to remain solely controlled
by the Company.
USCorp has two mineral exploration projects in the United
States: the gold and silver Twin Peaks project located in Yavapai
County, Arizona, and the gold Picacho Salton project located in
Imperial County, California.
Information about USCorp can be found at its website:
www.uscorpnv.com.
About Measurements
Technical Reports and Feasibility Studies on our projects are
presented in accordance with Canadian and internationally
recognized standards. The terms “Mineral Resource,” “Measured
Mineral Resource,” “Indicated Mineral Resource” and “Inferred
Mineral Resource” are Canadian mining terms and are not defined
terms under standards of the United States Securities &
Exchange Commission (SEC). Under SEC standards, mineralization may
not be classified as a “reserve” unless determination has been made
that the mineralization could be economically produced and
permitted in order to be legally produced or extracted at the time
the reserve calculation is made. USCorp cautions readers not to
assume that all or any part of Measured, Indicated or Inferred
Resources will ever be converted into Mineral Reserves as defined
by the SEC.
SAFE HARBOR ACT DISCLAIMER
NOTICE
“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: The statements contained in this release which
are not historical facts are forward-looking statements that are
subject to risks and uncertainties that could cause actual results
to differ materially from those set forth in or implied by
forward-looking statements. These risks and uncertainties include
the Company's entry into new commercial businesses, the risk of
obtaining financing, recruiting and retaining qualified personnel,
and other risks described in the Company's Securities and Exchange
Commission filings. The forward-looking statements in this press
release speak only as of the date hereof, and the Company disclaims
any obligation to provide updates, revisions or amendments to any
forward-looking statement to reflect changes in the Company’s
expectations or future events.
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