New York, NY -- (SBWIRE) -- 01/29/2013 -- Swingplane Ventures, Inc. (OTCQB: SWVI) updated information on Chile’s Rich Mineralization. Chile’s well established copper porphyry belt, which hosts world class deposits including CODELCO’s giant Chuquicamata deposit which, by excavated volume, is the largest open pit copper mine in the world.
For many years it was the mine with the largest annual production in the world, but nevertheless it remains the mine with by far the largest total production of approximately 29 million tonnes of copper to the end of 2007.
The La Escondida (BHP Billiton 57.5%, 30% by Rio Tinto) deposit is currently the highest producing copper mine in the world. Its 2007 production of 1.483 million tonnes of copper was worth US $10.12 billion and represented 26% of Chilean copper production, according to the US Geological Survey’s preliminary estimates of 2007 world mine output.
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World Moto, Inc. (OTCQB: FARE) announced that the Company has successfully closed a private placement for total proceeds of $1m.
The placing was made to an accredited investor as defined in Regulation D under the Securities Act of 1933 and closed on January 8, 2013. A total of 3,703,704 shares of Common Stock were subscribed for at an aggregate purchase price of $.27. The shares of Common Stock are restricted securities on issue and will not have been registered.
The Company did not engage in any general solicitation or advertising prior to concluding the placing. These funds will allow the Company to continue to execute its business plan without delay.
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