ARCADIA, Calif.--(BUSINESS WIRE)--Fuse Enterprises Inc. (“Fuse Enterprises” or the “Company”, OTCQB:FSNT) today announced that it has signed a memorandum of understanding (“MOU”) with Portafolio en Investigacion Ambiental S. A. de C. V. (the “Seller”) to purchase five mines in Mexico.
Under the terms of the MOU, the Company intends to purchase five mines located in the northwest part of Mexico, one in Durango and the other four in Culiacan (Sinaloa), for a price of US$1,000,000. Fuse Enterprises has the exclusive right to purchase these mines from the Seller until September 30, 2018 (the “Exclusive Period”), and the Seller is not to solicit or initiate, or participate in any discussions or negotiations with, or provide any information to any other potential purchasers for the mines during this period.
The purchase of the five mines in Mexico is subject to the Company’s completion of due diligence and the preparation of definitive documentation to effect the transaction that is mutually satisfactory to each party. Except for the Exclusive Period section, neither this MOU nor any discussion or negotiation of the proposed transaction constitutes an agreement or obligation on the part of any person to purchase the mines or enter into any agreement.
Mr. Umesh Patel, CEO of Fuse Enterprises, stated, “We are pleased to have reached this next stage in our Company’s development. This MOU provides us with the opportunity to purchase these five mines in Mexico, which we believe continue to be rich with valuable resources. While our focus remains on mining consulting, we felt this was a good and timely acquisition opportunity at a reasonable price. Given our particular expertise in the mining industry, we are well prepared to take on such projects and will continue working closely with the Seller as we move through the due diligence process.”
About Fuse Enterprises Inc.
Fuse Enterprises is a provider of expert management and consultants exclusively to the minerals sector. We work with our clients to develop new mines and facilitate the improvement of existing operations, with a primary focus on achieving optimum output and return. For more information, please visit our website at www.fuseenterprises.com.
Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the Company’s expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect the Company’s current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in the Company’s filings with the Securities and Exchange Commission.