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:: EnviroXtract Signs MOU to Acquire Precious Metals Processing Technology License and Announces Expansion
EnviroXtract, Inc. has announced that it has signed a Memorandum of Understanding with Colten Energy, LLC to acquire a license for a proprietary technology that will enable the Company to extract gold, silver, and other precious metals from ore concentrates in gold and silver mines. This technology may also be used to perform environmental remediation such as the removal of heavy metals and toxic metals from contaminated soil.
The Company's CEO, Carlton Wingett, said this is the first of many steps the Company has planned to execute in its Business Strategy for 2011. "Our Board has spent the last six months developing our new 2011 Business Strategy. This new Business Strategy will include acquiring new technologies that have applications in the precious metals mining industry, as well as in environmental remediation," said Wingett.
Mr. Wingett explained that previously, EnviroXtract was mainly focused on environmental remediation. However, adaptive configurations of the Company's current technologies may also have mining applications. "Our current technologies allow us to extract oil from contaminated soil in a way that is more advanced than many other companies, which creates tremendous environmental remediation opportunities. But now, we are finding that, besides remediation applications, these technologies also could be used to generate revenues in the mining industry. With gold and silver prices setting global records and many experts predicting precious metals values to continue rising, EnviroXtract plans to rapidly become a serious player in this exciting industry," said Wingett.
This month, the Company's Board of Directors approved the expansion of the Company's 2011 Business Strategy to pursue new business opportunities in the Precious Metals Mining industry. The Company has agreed to acquire an applications license for a proprietary technology capable of efficiently removing gold, silver, and other precious metals from ore concentrates.
Additionally, the Company is currently in the process of identifying and engaging industry professionals in the Precious Metals Mining Industry to strengthen its executive management team. The Company is also reviewing various opportunities, including the acquisition or lease of valuable gold and silver mining properties in which it can utilize its technologies to generate revenue for the Company.
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