WESTLAKE VILLAGE, CA / ACCESSWIRE / May 26, 2022 / Star Alliance International Corp. (OTC PINK:STAL) is pleased to announce that it signed a Binding Letter of Intent to acquire a 75% interest in Magma International Inc, ("Magma") formed in Wyoming, that is purchasing the Manufacturing Building, Equipment, Inventory, Intellectual Property and Knowhow relating to a variety of patented fiber technologies that can be used in the place of fiberglass, Kevlar, carbon fiber, steel, aluminum and wood in a variety of applications. Magma will hold the exclusive worldwide production, sales and marketing rights to all products made from this Magma product line of fibers.
The Magma product line of fibers is an innovative material that, due to its superior qualities and environmental compatibility, is positioned to replace conventional manufacturing materials such as fiberglass, carbon fiber, Kevlar, steel, aluminum and wood in a wide range of applications. In comparison to these commonly used materials, this line of products can provide a lower cost of production, superior strength, reduced weight, improved vibration resistance, superior thermal conductivity resistance, greater price stability, with minimal environmental impact.
Mr. Lilo Benzicron, who has agreed to be the CEO of Magma, has spent many years developing these specialty composite fibers and its manufacturing processes. The unique characteristics, applications and uses of these composite fibers have been validated working with companies such as Ford Motor Company, Boeing, Exxon, Isuzu and other large potential end users working through numerous testing and validation processes. Magma plans to develop many more innovative products with different fibers and strengths that will be patented and brought to market as soon as possible.
Lilo Benzicron, CEO of Magma International Inc. stated, "I am so excited to have found a team of professional and knowledgeable people to work with on this patented technology. At last, I feel that I can concentrate on my new line of products while improving existing fibers. I am anxious to get started generating revenue for the STAL group."
Richard Carey, Chairman of STAL, commented, "We have been telling you about our plans to continue to grow and develop Star into an innovative powerhouse with eco-friendly technologies and new products while we expand our mining operations. We are also acquiring strong assets including valuable patented technology. This product has applications that are beneficial in many areas of business and can replace many recognized products such as fiberglass and Kevlar. It is stronger and lighter. We have just skimmed the surface of the innovative products we can bring to market."
About Star Alliance International Corp.
Star Alliance International Corp. ("the Company", or "STAL") was incorporated in the State of Nevada on April 17, 2014 under the laws of the State of Nevada.
In August 2019, following a change in control, STAL acquired the mining claims, buildings and equipment from Troy Mining Corporation. The Project is located at the base of the "gold mother lode" in one of the three major vein belts where the greatest concentration of minerals settled, over the years, in California. Now the final for these assets has been made.
Our gold estimates have been confirmed by geologists showing significant reserves of gold located in veins within the areas that are covered by our California mining leases.
STAL plans to commence mining as soon as it is possible.
In December 2021 STAL executed the agreements to acquire 51% of Compania Minera Metalurgica Centro Americana SA (Commsa), a Honduran Corporation. Commsa owns the mining rights to five mines, one approved for mining and 4 approved for exploration. These mines that have significant gold resources run along a 12.5 mile stretch of the Rio Jalan River. We will commence mining operations very shortly and the Company plans to expand operations as soon as possible.
In November, 2021, STAL entered into a binding Letter of Intent to acquire 49% of Lions Works Advertising, SA, a Guatemala Corporation that owns the "Genesis" ore extraction process. Since signing the Letter of Intent the company has renegotiated and will now acquire a 51% interest. This green, environmentally friendly process, extracts up to 98% of the gold ore from the rock. A single module processes 300 to 350 tons of ore daily. The speed of extraction is up to 400 times faster than a conventional heap leaching process.
The Company plans to market "Genesis" to mining companies worldwide.
In May 2022, STAL signed Binding Letters of Intent to acquire 51% of NSM USA and NGM USA two companies that own four lithium mines and 3 gold mines respectively in West Africa. These mines are already producing at a very low production rate but the new equipment we are purchasing will greatly expand the operations.
Safe Harbor and Informational Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.
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SOURCE: Star Alliance International Corp.