Oro East Mining, Inc. (OTCMKTS:OROE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
East Mining, Inc. (Company) have mutually agreed to void the
joint venture agreement and joint venture company, Magnique, Inc.
that they established back in May of 2016. The parties agreed to
terminate, null, and void the Joint Venture Agreement they had
signed on May 16, 2016 and all subsequent suppelemental
agreements or addenda.
transferred to Magnique, Inc. as capital investment is to be
restored to the Company. The Company will likewise surrender to
Hang Zhou Ci Xiao Tang its 30% equitable interest in Magnique,
Inc. so that henceforth, Hang Zhou Ci Xiao Tang will be the sole
shareholder of Magnique, Inc.
business days of execution of the termination.
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Exhibit
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Description
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10.1
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Agreement to Terminate, Null, and Void the Joint Venture
Agreement |
About Oro East Mining, Inc. (OTCMKTS:OROE)
Oro East Mining, Inc. is focusing on the development of its approximately three substantial piles of crushed gold ores (Waste Management Units (WMUs)) at an aggregate mine in Carson Hill, California (the Carson Hill Project) owned and managed by its subsidiary, Oro East Mariposa, LLC. Its crushed gold ores and Carson Hill Project are located on the south side of Highway 49 in the central Sierra foothills of Calaveras County. The Company, through Oro Eat Mariposa, LLC, has a right of entry and access to the crushed ores, which are owned by Oro East Mariposa, LLC. The Company has an agreement for the purchase of certain lode and placer mining claims and all mineral rights thereto, in Mariposa County, California, known as the Red Bank Mine. The property is situated approximately 20 miles north of the town of Mariposa, California. The Red Bank Mine property consists of patented claims consisting of the Stevenson, Jubilee and Daisy Quartz mines, which comprises approximately 80 acres. Oro East Mining, Inc. (OTCMKTS:OROE) Recent Trading Information
Oro East Mining, Inc. (OTCMKTS:OROE) closed its last trading session down -0.0006 at 0.0119 with 7,000 shares trading hands.