VHGI Subsidiary VHGI Gold Completes Second Phase of Treasure Gulch and Zero Gold Mines Acquisitions
LEXINGTON, Ky., Feb. 5 /PRNewswire-FirstCall/ -- VirtualHealth Technologies, Inc. (OTC Bulletin Board: VHGI) today announced that VHGI Gold LLC, its wholly-owned operating subsidiary, has completed scheduled payments of cash and restricted shares of VHGI to the former leaseholder of the Treasure Gulch Lease-Purchase Option. Additionally, VHGI Gold confirmed that they intend to release details of plans to mine and process the gold reserves on the properties once their consultants have completed final due diligence over the coming weeks, which consultants are presently evaluating the full acquisition of the Treasure Gulch and Zero Mining Properties.
"From this point forward the only payment due the former leaseholders is a payment of $25,000 scheduled May 1, 2010; payments to the property owner have been completed for the period through 2012," stated Jim Renfro, President of VHGI. "After we conduct scheduled ore sampling and further project analysis we intend to decide whether to acquire the property outright or extend the lease through 2013, with an option to extend through 2023. If the numbers line up as anticipated, VHGI intends to proceed with a full acquisition of the property; at present we are evaluating plans to get the property into limited production as quickly as possible while we review construction of a full scale hard rock processing facility."
For more information please visit the company's website at http://www.virtualhealthtechnologies.com or http://www.vhgigold.com , or call shareholder relations at 859-514-6982.
About VHGI and VHGI Gold
VHGI is a diverse company with assets and interests focusing on opportunities within the Healthcare Technology Industry and Precious Metals Markets. VHGI Gold, a wholly owned subsidiary of VHGI has recently initiated steps to leverage the company's operating history and corporate resources within the Gold Mining Industry and intends to pursue these opportunities through Lease-Purchase opportunities, Acquisitions and Joint Ventures. Investors are invited to obtain information concerning our operations at http://www.virtualhealthtechnologies.com or http://www.vhgigold.com or by calling shareholder relations at 859-514-6982.
Safe Harbor Statement:
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
SOURCE VirtualHealth Technologies, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article