Strategy:
MPAC’s Business Plan for the proposed venture calls for:
-
Identification of a reputable, local agent in Turkey to work with as a business partner;
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Together with the agent, develop and nurture commercial relationships with reputable, local entrepreneurs to enhance their low-grade coal reserves for mutual as well as national economic benefit;
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Structure a business arrangement that maximizes the economic return whilst mitigating the political risks inherent in any international business venture.
The Company has incorporated this strategy into the agreement that should manifest within its contemplated venture in Turkey - the salient points of which are:
- SUPPLY OF COAL – the mine owner, at its sole cost, will provide sufficient coal to MPAC in order to produce a minimum tonnage of refined coal annually from its proven reserves..
- COAL REFINING OPERATION – MPAC will, at its sole cost, supply, install and operate at the coal mine a plant to produce the refined coal.
- RENT FREE – During the Term of the agreement, the mine owner will provide, rent free, in accordance with the Company’s specifications, a serviced site (the “Site”) on the coal mine for MPAC to carry out its refining operation.
- TERM – The term of the agreement will be for forty years or until the coal at the owner’s coal mine is sufficiently exhausted or the grade of the remaining reserves at the coal mine prove to be uneconomic to produce the refined coal as contemplated in the agreement.
- COAL MINE REMEDIATION – the mine owner will be solely responsible for any costs associated with the reclamation of the Site as required under any and all laws and regulations in Turkey.
- THE PURCHASE PRICE OF THE REFINED COAL – the mine owner will purchase and take delivery of a minimum of 30,250 tonnes per month of the so refined coal from MPAC which totals an average aggregate annual purchase of 363,000 tonnes of the refined coal at a price which varies depending on the final KCal value of the refined coal. The price varies from USD$48/tonne to USD$60/tonne. This pricing arrangement shall be fixed for the first five years of the Term.
- PURCHASE PRICE FOR THE BALANCE OF THE TERM – Commencing the sixth year and continuing for the balance of the Term, the price paid by the mine owner for the refined coal to MPAC shall be renegotiated, but in no event will it be lower than the previous price.
- METHOD OF PAYMENT – All payments shall be in US Dollars shall be secured by a bank guarantee or an acceptable irrevocable letter of credit.
  News Releases |
|
| • June 1, 2009 | |
| MPAC would like to provide its shareholders and the investment community with a corporate update concerning the coal refining pilot plant (the “Pilot Plant”) located in the City of Soma in Turkey and the next steps that the Company anticipates. (Read More...) |
|
| • March 16, 2009 | |
| MPAC is pleased to provide its shareholders and the investment community with a
corporate update concerning the coal refining pilot plant (the “Pilot Plant”) located in
the City of Soma in Turkey. (Read More...) |
|
| • January 14, 2009 | |
| MPAC is pleased to provide its shareholders and the investment community with a corporate
update concerning the coal refining pilot plant (the “Pilot Plant”) located in the City of Soma in
Turkey. (Read More...) |
|
| • December 03, 2008 | |
| MPAC is pleased to provide its shareholders and the investment community with a
corporate update concerning the coal refining pilot plant (the “Pilot Plant”) located in
the City of Soma in Turkey. (Read More...) |
|
| • October 14, 2008 | |
| MPAC is pleased to announce that it has concluded
negotiations for a non-brokered private placement of a maximum of 1,500,000
units (the “Offering”) at a price of $0.05 (five cents) per unit. (Read More...) |
|
| • September 30, 2008 | |
MPAC is pleased to provide its shareholders and the investment
community with a corporate update concerning the coal refining pilot plant (the “Pilot
Plant”) located in the City of Soma in Turkey. |
|
| • September 11, 2008 | |
| MPAC is pleased to provide its shareholders and the
investment community with a corporate update concerning the coal refining pilot
plant (the “Pilot Plant”) located in the City of Soma in Turkey and the next steps
that the Company anticipates. (Read More...) |
|
| • August 5, 2008 | |
| MPAC is pleased to provide its shareholders and the
investment community with an update regarding the coal refining pilot plant... (Read More...) |
|
| • August 5, 2008 | |
| MPAC announces that, further to its News Release of June 23, 2008, pursuant
to the conditional acceptance from the Exchange received May 26, 2008, it has
closed the non-brokered private placement... (Read More...) |
|
| • June25, 2008 | |
| MPAC is pleased to provide its shareholders and the
investment community with an update concerning the election of the new Board of
Directors... (Read More...) |
|
| • June23, 2008 | |
| MPAC wishes to advise its shareholders and the investment
community that the Exchange has granted a forty-five (45) day extension... (Read More...) |
|
| • June23, 2008 | |
| MPAC announces that, under it’s stock option plan, it has granted incentive
stock options to directors, officers, and/or consultants... (Read More...) |
|
| • May 6, 2008 | |
| MPAC is pleased to provide its shareholders and the investment community an update regarding the coal refining pilot plant (the “Plant”) located in the City of Soma in Turkey. (Read More...) |
|
| • April 4, 2008 | |
| MPAC is pleased to provide its shareholders and the investment community an update regarding the Soma coal refining Pilot Plant... (Read More...) |
|
| • March 31, 2008 | |
| MPAC announces that, under it’s stock option plan, it has granted incentive stock options to directors, officers, and/or consultants of the Company... (Read More...) |
|
| • March 11, 2008 | |
| MPAC is pleased to announce the commencement of limited commercial production at the coal refining plant (the “Plant”) located on the leased site (the “Leased Site”) in Soma, Turkey. (Read More...) |
|
| • February 18, 2008 | |
| MPAC announces that, further to its News Release of January 28, 2008,
the Company, has closed its Non-Brokered Private Placement (the “Placement”)
comprised of 1,815,000 units with twenty (20) placees at a price of $0.13 per unit.
(Read More...) |
|
| • February 14, 2008 | |
| MPAC is pleased to provide its shareholders and the
investment community of the following up-date concerning the Soma coal refining
plant (the “Plant”) on the leased site (the “Leased Site”) located in the City of Soma
in the western part of Turkey. (Read More...) |
|
| • January 29, 2008 | |
| MPAC is pleased to release the results of two (2) of the test
samples from the coal refining plant (the “Plant”) located on the leased site (the
“Leased Site”) in Soma, Turkey. Further results from subsequent tests will be
released as they become available. (Read More...) |
|
| • January 28, 2008 | |
| MPAC is pleased to announce that it has concluded negotiations
for a non-brokered private placement of a maximum of 1,500,000 units (the
“Offering”) at a price of $0.13 (thirteen cents) per unit. (Read More...) |
|
| • January 22, 2008 | |
| MPAC is pleased to advise its shareholders and the investment community of the following activities concerning the Soma coal refining plant (Read More...) | |
| • December 6, 2007 | |
| MPAC is pleased to advise its shareholders and the investment community of the following activities concerning the Soma leased site (the “Leased Site”). (Read more...) |
|
| • November 9, 2007 | |
| MPAC
announces that, further to its News Releases of October 30, 2007 and
November 6, 2007, the Company, pursuant to the Conditional Acceptance
from the Exchange, has closed its Non-Brokered Private Placement (the “Placement”)
comprised of 1,260,000 units with twelve (12) placees at a price of
$0.14 per unit. (Read More...) |
|
| • November 6, 2007 | |
| MPAC
announces that, further to its News Release of October 30, 2007, the
Company has increased the maximum offering of its Non-Brokered Private
Placement from $154,000 (1,100,000 units) to $180,600 (1,290,000 units). (Read More...) |
|
| • November 5, 2007 | |
| MPAC is pleased to advise its shareholders
and the investment community of the following activities concerning the
Soma coal mine... (Read More...) |
|
| • October 30, 2007 | |
| MPAC is pleased to announce that
it has concluded negotiations for a non-brokered private placement of
a maximum of 1,100,000 units (the “Offering”) at a price
of $0.14 (fourteen cents) per unit. (Read More...) |
|
| • October 24, 2007 | |
MPAC has now entered into a
binding lease agreement for the leased site in Soma as referred to
in its News Release of October 22, 2007. |
|
| • October 22, 2007 | |
| MPAC is pleased to advise its shareholders
and the investment community of the following activities concerning the
Soma coal mine... (Read More...) |
|
| • September 17, 2007 | |
| MPAC Is pleased to advise its shareholders
and the investment community of the following activities concerning the
Soma coal mine. (Read More...) |
|
| • August 21, 2007 | |
| MPAC is pleased to announce that, in keeping with its intent to initially concentrate its efforts to refine coal in the western part of Turkey, it has entered into a Memorandum of Understanding (the “MOU”) with the Yalvaç coal mine owner to refine their coal using the Company’s coal upgrading and refining process. (Read More...) |
|
| • August 4, 2007 | |
| MPAC announces that, further to its News Release of July 9, 2007, the Company has closed its Non-Brokered Private Placement comprised of 1,510,000 units with twenty-three (23) Placees at a price of $0.17 per unit. (Read More...) |
|
| • July 30, 2007 | |
| MPAC is pleased to announce that it has secured the required promissory note (the “Note”) from E.E. Madencilik Dagitim Sanay Ticareti ve Pazarlama Ltd. Sti (“E&E”) in accordance with the terms of the recently announced definitive agreement (the “Agreement”) with E&E. (Read More...) |
|
| • July 17, 2007 | |
| MPAC is pleased to announce that it has entered into a definitive agreement (the “Definitive Agreement”) with E.E. (Read More..) |
|
| • July 9, 2007 | |
| MPAC is pleased to announce that it has re-priced its recently announced non-brokered private placement and adjusted the maximum number of units available for offer. (Read More...) |
|
| • July 3, 2007 | |
MPAC is pleased to announce that the Company has entered into a binding Memorandum of Understanding (the “MOU”) with the Soma coal mine owner to refine their coal using the Company’s coal upgrading and refining process. |
|
| • June 20, 2007 | |
| MPAC is pleased to announce that the final testing of the coal refining pilot plant equipment (the “Equipment”) has been completed by the engineering staff from Turkey. (Read More...) |
|
| • June 1, 2007 | |
| MPAC announces that, under it’s stock option plan, it has granted incentive stock options... (Read More...) |
|
| • May 31, 2007 | |
| MPAC has filed its annual audited financial statements and management's discussion and analysis... (Read More...) |
|
| • May 22, 2007 | |
| MPAC intends to implement accelerated exercise provisions on warrants issued in its November 30, 2006 non-brokered Private Placement... (Read More...) |
|
| • May 11, 2007 | |
| MPAC announces that it has revised the scheduling of the planned testing of the Coal Refining Plant... (Read More...) |
|
| • May 1, 2007 | |
| MPAC reports that it has been delayed in filing its Annual Audited Financial Statements and Annual Management Discussion & Analysis... (Read More...) |
|
| • April 25, 2007 | |
| MPAC wishes to provide the following update to its activities in Turkey since the last News Release of March 26, 2007. (Read More...) |
|
| • March 26, 2007 | |
| MPAC is pleased to advise that it has closed the previously announced Non-Brokered Private Placement... (Read More...) |
|
| • March 5, 2007 | |
| MPAC is pleased to provide the following update to its activities in Turkey. (Read More...) |
|
| • February 7, 2007 | |
| MPAC is pleased to provide the following update to its activities in Turkey. (Read More...) |
|
| • January 4, 2007 | |
| MPAC is pleased to announce that the major components of the coal refining plant (the “Plant”) have arrived in Tokat / Zile and have been substantially installed. (Read More...) |
|
| • December 7, 2006 | |
| MPAC signs additional MOUs (Read More...) |
|
| • December 1, 2006 | |
| MPAC Industries grants stock options. (Read More...) |
|
| • November 30, 2006 | |
| MPAC Industries close $75,000 private placement offering. (Read More...) |
|
| • November 23, 2006 | |
| MPAC arranges up to a maximum of $60,000 financing. (Read More...) |
|
| • November 20, 2006 | |
| MPAC Industries Corp. is pleased to announce that the plant equipment has safely arrived at the port of Istanbul. (Read More...) |
|
| • October 25, 2006 | |
| MPAC Industries Corp. is pleased to provide the following corporate update on its recent activities. (Read More...) |
|
| • October 13, 2006 | |
| MPAC Industries Corp. Closes $405,000 Private Placement Offering. (Read More...) |
|
| • October 13, 2006 | |
| MPAC grants stock options. (Read More...) |
|
| • September 28, 2006 | |
| MPAC directors & officers exercise stock options. (Read More...) |
|
| • September 21, 2006 | |
| MPAC is pleased to announce that it has entered into a definitive agreement (the Definitive Agreement”) with ALCE Cevre Teknigi Ltd. (Read More...) |
|
| • September 13, 2006 | |
| "MPAC") is pleased to announce that the testing of the equipment that has been manufactured for MPAC has now been successfully concluded at the manufacturer’s plant. (Read More...) |
|
| • August 28,2006 | |
| MPAC is pleased to announce that it has concluded negations for a private placement of a maximum of 4,000,000 units... (Read more...) |
|
| • August 23,2006 | |
| MPAC is pleased to announce that it has completed its preliminary due diligence on the Tokat/Zile coal mine... (Read More...) |
|
| • June 29, 2006 | |
| MPAC Industries Corp. announces that, under it’s stock option plan... (Read More...) |
|
| • April 20, 2006 | |
| MPAC is pleased to provide the following corporate update of its activities... (Read More...) |
|
| • January 11, 2006 | |
| MPAC is pleased to provide the following corporate update of its activities... (Read More...) |
|
| • December 19, 2005 | |
| MPAC announces that, under its stock option plan, it has granted incentive stock options to directors... (Read More...) |
|
| • November 21, 2005 | |
| Pursuant to the shareholder approval at the Company’s Annual General Meeting held on June 24, 2004, the Company has now issued a total of 500,000 ... (Read More...) |
|
| • November 15 , 2005 | |
| MPAC is pleased to announce the closing of its private placement of 6,004,000 Units at $0.11 per Unit... (Read More...) |
|
| • October 4, 2005 | |
| MPAC Industries Corp. (the “Company or “MPAC”) is pleased to announce that its shares will be reinstated for trading on NEX on October 5, 2005... (Read more...) |
|
| • July 20, 2005 | |
| MPAC Industries Corporation (the "Company" or “MPAC”) is pleased to announce that First Associates Investments Inc. (“FAI”) of Calgary, Alberta has, subject to completion of satisfactory due diligence... (Read more...) |
|
| • December 9, 2004 | |
| MPAC Industries Corp. Closes $200,000 Private Placement Offering... (Read more...) |
|
| News Release Archive |
|
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