(PublicWire) — WorldVest, Inc. (OTCBB: WOVT), a global merchant bank, announced Friday the launch of Hurricane Global Resource Corporation as a platform development subsidiary. Hurricane will engage in global trading of in-demand resources between high growth markets such as Latin America and Asia and will seek to secure continuous long-term supply through strategic acquisitions in a diversified slate of natural resource projects.WorldVest will independently manage all Hurricane operations through a dedicated team of professionals experienced in acquisition, development and management of global resource properties. With an extensive worldwide network of resources, WorldVest is confident in its ability to transform its current slate of resource M&A targets into long-term global supplies and strong revenue growth.
Hurricane’s launch coincides with the signing of a Letter of Intent with a large Chinese steel manufacturer with a government approved import license seeking a long term iron ore supply with an initial monthly requirement of up to 1.2 million metric tons. In order to fulfill this long-term demand, Hurricane has entered into negotiations for the acquisition of two properties, each estimated to contain significantly more than 500 million tons of iron ore reserves. In the near term, Hurricane’s objective is to finalize a long-term purchase contract based on terms of LOI and to secure internal supply through the completion of at least one of its two acquisition targets. In the near term, Hurricane anticipates securing multiple short-term Brazilian iron ore supplies and brokering initial shipments to China immediately creating positive cash flow.
In addition to these initial two iron ore investment targets, Hurricane has identified a Brazilian sustainable forestry management project and a significant U.S. based potash reserve each representing unique and attractive growth opportunities. Collectively, management believes that Hurricane can consolidate these and other future resource opportunities creating a diversified and lucrative asset portfolio, ultimately positioning Hurricane for an independent public listing of its common shares on a major exchange.
WorldVest CEO, Garrett K. Krause, acknowledged the magnitude of the opportunity by commenting, “Recently, overall demand for minerals and metals has risen due to the China’s economic resilience and slow recoveries in the U.S. and Europe. By every account, global demand for iron ore has and will continue to outpace supply for years to come. With initial buyer commitments in place, the opportunity for WorldVest to enter the global iron ore market through Hurricane could not be more attractive. These initial iron ore transactions are the beginning of a far reaching and global commodities platform development company under WorldVest.” Krause further commented, “For the first time in more than 80 years, the United States is no longer the number one trading partner to Brazil, having been recently surpassed by China. This being the case, the timing could not be better to launch Hurricane, as our infrastructure in Brazil and China uniquely positions us to facilitate the development and trade of commodities and natural resources between these strategic markets.”
About WorldVest, Inc.
WorldVest is a global merchant bank that offers not only traditional investment banking, asset management and advisory services, but also makes direct investments as a principal in select high-growth transactions on a global basis. Recognizing the disconnect that exists between the needs of companies and the limitations of traditional investment banking, private equity, and venture capital institutions, WorldVest seeks to set a new standard, emerging as a partner and solution provider where one did not previously exist.