Fluid Solutions, Inc. Acquires Gold Standard Mining Corp.admin
Fluid Solutions, Inc. announced today that it has acquired Gold Standard Mining Corp., a Wyoming corporation, in a share exchange agreement. Gold Standard Mining Corp.’s wholly owned subsidiary, Ros Zoloto, owns and operates a producing gold mine in Blagoveshensk, Russia. Ros Zoloto currently extracts approximately 4-5 kilograms of gold daily from its alluvial gold reserves, currently estimated at 3,186 kilograms. Ros Zoloto reported unaudited revenues of $23.9 million in 2008 with net profits of $8.7 million, and unaudited revenues of $19.4 million in 2007 with net profits of $9.5 million. Ros Zoloto’s unaudited drilled proven placer gold reserves are estimated at $1.086 billion, for total gold reserve value of $1.3 billion. Placer gold extraction has not yet begun. Ros Zoloto’s financial statements are in the process of being audited by the company’s independent accountant, and will be filed in a supplemental current report on Form 8K.
“We are excited about the acquisition of Gold Standard Mining,” said Pantelis Zachos. “It increases shareholder value and provides the company with the fundamentals it needs to gain support from investors and institutions. These strong fundamentals will make growing the company a simpler task, allowing the company to expand its operations,” he added.
Fluid Solutions’ current plan of operations includes the seeking and development of natural mineral water sources for bottled water and juices. With the acquisition of Ros Zoloto, the company’s operations expands into minerals and mining.