CMR Decides to Not Sign Joint Venture
Cooperative Mineral Resources Decides Timing is not Right for Joint Venture
July 9, 2015 - Cooperative Mineral Resources (CMR) announces they will not be moving forward at this time with a Joint Venture (“JV”) that had been anticipated by the signing of a Memorandum of Understanding (“MOU”) in late 2014. The MOU with Star Minerals Group Ltd. (CSE:SUV) ("Star") and Octopus Technologies Inc. ("OTI") of Vancouver, BC, was to cooperate on developing a mine-to-market manganese-based battery technology. The JV was to have occurred by June 1, 2015, however all parties agreed that at this time they were not in a position to move forward. If and when the situation changes the parties have agreed to revisit the JV opportunity. In the meantime all parties are continuing to pursue other partnership investor opportunities. Cooperative Mineral Resources is stilll seeking investors to complete the last two phases of development as part of the final preparation for a commercial operation.