Los Angeles, CA- August 13, 2019- Element Global, Inc. ( ELGL: OTCMARKETS) announces its acquisition of Clarinova Limited.
Clarinova Limited owns historic tailing piles. These tailing piles based on today’s precious and semi-precious metal prices can be considered commercial grades and values.
Based on the terms of the agreement, Clarinova Limited, as a wholly-owned subsidiary, will act as the finance, treasury, and private equity arm for all of Element Global’s operations and subsidiaries. Mr. Bertil Olsson remains Chairman of the Clarinova Limited subsidiary, and is now a member of the Board of Directors of the parent company, ELGL.
Merle Ferguson, Chairman of Element Global, Inc., states: “After three years of negotiations and due diligence, the acquisition of Clarinova Limited as a wholly-owned subsidiary brings an enormous value-added asset to ELGL.“
He further states: “Given the recent increases in precious metal prices based on world demand as investors seek safe-haven assets during times of uncertainty, the timing of the Clarinova acquisition could not be better.”
At the time of publication of this release, prices for GOLD per ounce $1495.00 US, Silver per ounce $16.83 US, and Copper per pound $2.61 US.
ELGL expects to hire qualified mining executives into the Element Global Mining Enterprises subsidiary with one of their main focuses being a detailed audit and plan for the monetization of Clarinova Limited’s Battery Mineral related assets which also includes copper, gold and silver.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.