TORONTO, ONTARIO -- (Marketwired) -- 04/09/13 -- Deveron Resources Ltd. (TSX VENTURE: DVR) ("Deveron" or the "Company") is pleased to announce that the Company has acquired an initial stake in Boreal Agrominerals Inc. ("Boreal"). Deveron has purchased a 6% interest in Boreal, which owns and operates a significant carbonatite quarry near Sudbury, Ontario. (Please visit: www.borealagrominerals.com.)
Boreal is a private company that explores for, tests, develops and produces organic-certified agromineral fertilizers and soil amendment products, targeting the purest and most reactive minerals that are superior for organic as well as conventional farming enterprises.
The carbonatite product is referred to as Spanish River Carbonatite "SRC". The material is designated by the Organic Materials Review Institute in Eugene, Oregon, as "OMRI Listed" and therefore may be used in certified organic production. SRC has also passed the various Ontario and British Columbia Ministry of Environment tests which are required to have the product included as a compost amendment at various major landfill/composting sites and as a soil amendment in those jurisdictions where parks, playing fields, lawns, forests and gardens are being legislated as chemical free.
The calcium carbonate (CaCO3) in SRC is one of the most reactive calcium carbonate products (aglime) available in bulk in North America. With additional credits for its other macro/micronutrients (including phosphorus and potassium), and high activity clay, SRC is one of the best quality, and the only magmatic high-calcium aglime available within North America's Agricultural Core.
"Our mission is to be leaders in the development of a complete line of natural agromineral fertilizers and soil enhancers for sustainable agriculture and soil restoration," stated John Slack, Boreal CEO. "We are pleased to have Deveron as an active investor/partner and look forward to working with them as Boreal ramps up sales and production."
"To their credit, over the past number of years, Boreal management has done most of the heavy lifting in terms of acquiring a potentially massive carbonatite deposit, testing the product and then educating the market place as to its merits. Boreal is now at the point where sales are about to ramp up and they expect to be cash flow positive this year. Organic farming is the fastest-growing sector in North American agriculture. We are excited to be part of this story and may increase our ownership in the future," said Jim Pirie, Deveron CEO.
For more information, please visit www.deveronresources.com or www.borealagrominerals.com.
This news release includes certain "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of commodities, general market conditions, risks inherent in exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward-looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Deveron Resources Ltd.
416-367-4571 ext. 233
Most Popular Stories
- GE Healthcare Bringing Jobs to Massachusetts
- Spiders Get Bigger, Reproduce Faster in Cities
- Faith Groups Divest From Fossil Fuels
- James Foley Beheading Video Is Real Thing: White House
- Apple Stock Bounces Back Big Time
- Entrepreneur Contest Announced in Idaho
- Why BofA Won't Pay $17 Billion After All
- Obama Weighs Move on Legal Immigration
- Notes From the July FOMC Meeting
- Eric Holder Arrives in Ferguson