TORONTO, ONTARIO--(Marketwired - Sept. 27, 2013) - Americas Now Resources Investment Management Corp. ("Americas Now" or the "Company") is pleased to announce the launch of the first Chinese global offshore mining fund, which was facilitated by Americas Now. The fund is a joint venture between Canadian asset manager Sprott Inc. ("Sprott") of Toronto, Canada and Zijin Mining Group Co. ("Zijin"), one of the largest gold and mined copper producers in China listed on Hong Kong Stock Exchange and Shanghai Stock Exchange of China, and Americas Now of Toronto Canada. The fund will have an initial target of US$500 million to invest primarily in the global precious metals market with a focus on gold.
Dr. Kaihui Yang, CEO of Americas Now stated "We are delighted to have facilitated the creation of such an exciting opportunity with this agreement between Sprott and Zijin." He went on to say "This is the start of a new type of cooperation between China and the West, and between a technical leader from the industry and a recognized leader in precious metal and resource fund management. We believe this will have a positive impact on the global precious metals markets."
The fund has been initially seeded with US$100 million from Zijin and US$10 million from Sprott. The Fund will raise additional commitments from investors, primarily in mainland China, Hong Kong and other areas of Asia.
Mr. Grosskopf, CEO of Sprott Inc. stated "China represents the new frontier of precious metals and resource investing and we are proud to be part of this fund." Mr. Grosskopf went on to say, "Americas Now was instrumental in the creation of this fund and we are pleased to be working with them going forward."
Mr. Chen, Chairman of Zijin said, "We are very happy to cooperate in the first Chinese overseas mining fund. All the partners complement each other with their specific technical and financial strengths and we trust such a cooperation will be highly successful in the global market".
About Americas Now
Americas Now is a team of international mining professionals who over the past decade have successfully created and operated joint ventures between China and the West. With deep understanding of both Western and Chinese business cultures, the team has played an instrumental role in creating new models for the cooperation between Western and Chinese companies to take advantage of East/West opportunities in the global capital markets.
For more information please see the Americas Now website at www.americasnowresources.com.