LOS ANGELES, CA--(Marketwire -02/27/12)- Catalyst Resource Group (OTCQB: CATA.PK - News) (Pinksheets: CATA.PK - News), a precious metals recovery and technologies company, today announced corporate updates on the Company's financing and acquisition plan.
Following the completion of its laboratory and recovery facility in Downey, California, which is equipped with state-of-the-art equipment and proprietary processing technologies to analyze and assay samples for gold and platinum group metals, the Company has worked with a number of select investor groups, both in the U.S. and overseas, to arrange the financing for a commercial production facility as well as working capital. The Company has received both indications of interest and commitment from some of these investor groups and expects to be able to close the initial funding tranche within the next sixty days.
At the same time, the Company has also investigated additional opportunities for precious metals in the U.S. and Southeast Asia and will provide further update on its acquisition plan in the near future.
About Catalyst Resource Group
Catalyst Resource Group is focused on utilizing innovative processing technologies for mining and natural resources to extract and process gold and platinum group metals such as rhodium, palladium, and platinum. Website: www.cataresource.com
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.