LAS VEGAS, NV, United States, via ETELIGIS INC., 03/10/2015 – – Solo International, Inc., ("Solo International" or "the Company") (OTC Pink: SLIO) (PINKSHEETS: SLIO), an exploration and acquisition stage resource company, announces that it has elected to substantially change the Company’s strategic direction in response to extended below normal temperature conditions on its REE properties in Quebec.
With the ongoing record setting low temperatures Solo has experienced along with most other junior resource issuers in Canada, Solo now intends to shift focus on its exploration and development efforts onto new opportunities which represent immediate potential for growth for Solo and its shareholders. Solo intends to maintain its current REE projects while completing the final due diligence phase for a major shift in strategic direction.
Solo’s CEO Michael Smith provides the following statement; “At present our existing REE projects have little or no bearing on our current market valuations. This is evidenced by the devaluation of all Canadian property based junior resource issuers throughout this harsh Canadian winter. With that in mind, Solo’s existing REE projects will remain a viable future option when weather conditions improve and new financing opportunities emerge.”
CEO Smith concludes, “Under our new strategy, we have already commenced our search for new acquisitions of projects having existing operations that will immediately add value to our existing portfolio. The current search includes assets within the USA which the due diligence phase is nearing completion on. Solo’s management has already identified a prime candidate within the USA whose assets match the requirements management intends to pursue and complete in the next few days. An announcement on the pending closing is expected to be forthcoming on the near term horizon.”
About Solo International Inc.:
Solo International is an exploration and development mining company with a focus on deposits of rare earth metals and rare earth elements (REEs). The Company is focused on the acquisition, exploration, production, development and potentially, the operation of mining properties in strategic bulk mineable industrial metals (such as REEs, Titanium and Phosphates) sectors of eastern Canada. All of the Company’s properties are currently at the exploration stage in Quebec. For further information please visit the Company’s website at www.solointernationalinc.com.
This release contains forward-looking statements that reflect Solo International, Inc.’s plans and expectations. In this press release and related comments by Company management, words like "expect", "anticipate", "estimate", "forecast", "objective", "plan", "goal", and similar expressions are used to identify forward-looking statements, representing management’s current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.
Solo International, Inc.
Chief Executive Officer and Director
SOURCE: Solo International, Inc.