MESA, Ariz., Sept. 15, 2010 (GLOBE NEWSWIRE) -- B2 Digital, Inc. (Pink Sheets:BTDG) announced today it has entered into preliminary discussions with an Asian investment fund which has expressed strong interest in investing up to $20 million dollars to accelerate the development of the mining leases B2 Digital is now managing under the terms of the new Joint Venture Agreement with Firma Gold.
Stephane LeBlanc, President of Firma Gold, Inc., said, "We made initial contact with this investor group some time ago and their interest has heightened since we have now found a Joint Venture Partner in B2 Digital." Mr. LeBlanc continued, "This fund is particularly interested in B2 Digital's status as a publicly traded company, as well as their ability to attract and recruit management with extensive expertise."
Firma Gold's ownership of mining leases at Courville and Larienne Quebec have estimated gold reserves of over 1.5 million ounces, based upon geologists reports and an NI 43-101 technical report drilled to 50 meters. The properties are in the Val D'Or and Malartic regions, both of which are well known to be extremely rich in gold. In February of this year, Montreal-based Osisko Mining (TSX:OSK) announced an estimated 9 million ounce gold reserve estimate for its Malartic open pit project in Quebec.
B2 Digital President, Paul LaBarre, stated, "The ongoing dialogue for this major investment initiated by Firma Gold is a very positive development. We believe it validates the opportunity this Joint Venture holds for our shareholders. Even though we are in the initial stages of these negotiations with the terms yet to be agreed upon, we are very excited about the potential."
Mr. LaBarre further commented that "B2 Digital is presently considering a name change to better reflect its change in business direction with its primary focus within the resource and mining sector."
About B2 Digital
B2 Digital is dedicated to seeking acquisitions and joint ventures within the resource sector and in particular mining properties that contain gold and silver reserves. Management of its subsidiary has many years of experience in the exploration and operations of mining assets. B2 Digital is currently in the process of divesting itself of some of its technology assets. More information on B2 Digital can be found at: http://www.b2digital.us.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risk and uncertainties, including but not limited to those detailed from time to time in the Company's filings with Pink Sheets.com. Mining projects are subject to numerous risk factors including changing regulations, volatile commodity prices, and others factors that may preclude production should commercially viable reserves be established on a property and exploration plans dependent on funding and approval of any required permits. Please review on www.pinksheets.com as posted: July 29, 2010, Exhibit 1.02, Page 1 "Risk Factors".