2014-01-23 14:35:49 -
Vancouver, British Columbia, January 23, 2014 /FSC/ - Lake Victoria Mining Company, Inc. (LVCA - OTCBB),has commenced forward gold sales through "Buy Gold Direct", its web based offering of gold bullion bars. The Company, using Forward Gold Purchase Agreements intends to sell a portion of its planned monthly gold production in advance as a means to finance the capital costs of establishing their first medium size gold mine at the Kunanga Village area of the Kinyambwiga Gold Project, Tanzania.
The Company will begin immediately to enter Forward Gold Purchase Agreements with Accredited Investors worldwide to sell, in advance monthly portions of their planned gold production. The Company benefits by using a small portion of its existing asset to finance the
project's development, without further dilution of their share structure. The Company will only sell a small portion to satisfy its capital needs and then it will suspend any further forward gold sales. The appeal for the gold buyer or gold investor is their ability to purchase gold bullion directly from the producer at a considerable discount to the current gold spot price and gold future's price in return for accepting a future delivery date from the Company.
President and CEO, David Kalenuik states: "Companies today must get creative and have tenacity to continue to fulfill their objectives and shareholder expectations. We believe that our team has been extremely creative in developing an alternative solution to funding our current capital requirements. We are taking a lesson from the big gold producers and institutions that have been forward gold selling for years. By using online sales, we are making it simple and easy for the accredited investor to play in the same game and receive the benefits. We are also proud of announcing the "Golden Rule", our social commitment to the Kunanga Village, that we have incorporated from "day one" into our Forward Gold sales."
Interested parties are invited to visit the Company's online offering at www.buygolddirect.biz where they will be able to shop, based on delivery month and availability, for 1 oz, 10 oz, 100 gram, 500 gram and 1 kilo gold bars. The pricing is dynamic and fluctuates with the current gold spot, gold future's, delivery date and what quantity of gold that the Company desires to forward sell. The website allows them to choose the size and quantities of bars and delivery date and then check out online. Upon checkout a buyer will receive all the documentation to complete their order and to properly verify that they are an accredited investor. Investors may also call: 1-604-307-9951 to complete their Forward Gold Purchase.
About the Company
Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa. Tanzania is Africa's fourth largest gold producer, behind South Africa, Ghana and Mali, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year. Lake Victoria holds nine prospective gold projects and five uranium projects within its Tanzania property portfolio. Additional information regarding the Company is available on the corporate website at: www.lakevictoriaminingcompany.com or by contacting:
Lake Victoria Mining Company, Inc.
David T. Kalenuik, CEO & President
This news release may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and within the meaning of Canadian provincial securities laws applicable to the Company. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to obtaining financing to meet the Company's exploration programs and operating costs during its exploratory stage, the interpretation of exploration results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including the inability to obtain mining permits and environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, and other risks and uncertainties, including those described under "Risk Factors" in the Company's Annual Report on Form 10-K filed on June 28, 2013, which is on file with the Securities and Exchange Commission, as well as the Company's periodic filings available at www.sec.gov and with Canadian Securities Administrators at www.sedar.com. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as is required under applicable securities laws.
Cautionary note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "mineralized zones" which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our annual report on Form 10-K. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration is available.
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Source: Lake Victoria Mining Company, Inc. (OTCBB LVCA) www.lvamining.com
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