Resinco® Capital Partners Inc. Debt Settlement
VANCOUVER, British Columbia--(BUSINESS WIRE)--Resinco® Capital Partners Inc. ("Resinco" or the “Company”) is pleased to announce that it has settled the outstanding incentive payment due to JRI Strategy Consultants Inc. (“JRI”), a company owned by John Icke, the Company’s President and Chief Executive Officer. The incentive payment pertained to fiscal 2010 performance.
In consideration, for full and final mutual release, the Company has agreed to transfer 3,000,000 common shares of Woulfe Mining Corp. into the name of JRI.
Given current depressed market conditions for junior resource investments, Mr. Icke agreed to discount the amount due to his company by a significant percentage, including waiving all outstanding accrued interest due in relation to the incentive payment.
About Resinco® Capital Partners Inc.
Resinco (Resource Investment Company) is a global investment company that specializes in providing early stage financing to private and public exploration and mining companies in the hard rock minerals, precious metals, rare-earth minerals, oil, gas, water and renewable energy markets.
For more information on Resinco, please visit www.resincocp.com.
On behalf of the Board of Directors
RESINCO® CAPITAL PARTNERS INC.:
Statements in this news release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company’s business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.