Minaean International Corp. Signs A Memorandum Of Understanding With Loita Capital Partners, South Africa For Construction Of Housing Projects In Africa
Vancouver, BC, Canada – Wednesday, June 4, 2014 – Minaean International Corp. (MIC) (TSX Venture Exchange: MIB; Berlin and Frankfurt Stock Exchanges: NJA), a Canadian-based developer of alternative building technologies using light-gauge steel, is pleased to announce that it has signed a Memorandum of Understanding with South Africa based, Loita Capital Partners (“LOITA”), for construction of affordable housing projects in Africa, primarily in Cameroon, Cote d’ivore, Sierra Leone and Zambia.
MIC will be working towards conducting a project study and submitting a construction proposal in due course for a 5,000 unit affordable housing project in Cameroon using its ‘Artisan Quik Build’ light gauge steel construction system. MIC, having the experience of conducting a similar exercise in Ghana, is well positioned to continue with its efforts to pursue similar opportunities elsewhere in Africa.
MIC along with IVRCL Ltd, a multi faceted company headquartered in Hyderabad, India, have submitted the commercial and financial proposals for construction of the first phase of 1,000 units of the 5,000 units of Affordable Housing project in Ghana and are awaiting the allotment of land for conducting engineering and commencement of contract negotiations. The Company is also working on development of clean water storage and renewable energy projects in Ghana.
About Loita Capital Partners
Loita Capital Partners International Limited is an investment banking firm focused on Africa. Loita provides services in the arrangement and funding of debt transactions; advisory services and capital-raising for equity transactions; bank management; correspondent banking; asset management; and other corporate-oriented financial services.
Founded in 1992 by a group of international bankers, Loita has since grown into a unique pan-African group with a dedicated team of professionals from around the world. The group originates and completes transactions across Africa from a network of company and affiliated locations and relies on this local network to share and apply best practices, which take into account the reality and demands of our markets.
Loita’s competitive advantage derives from the ability to bridge the gap between the objectives of regional and international financial institutions and Africa’s investment banking requirements. At Loita, we have created the optimum environment from which to originate and structure innovative solutions to those requirements.
Minaean is well known for its pioneering efforts in the manufacture of light gauge steel components for the construction industry and modular metal buildings. The strong, affordable, ecologically sustainable structures present a promising solution to the mass housing shortages in developing countries and disaster-stricken areas, in addition to a range of conventional applications.
The shares of Minaean International Corporation (parent company) are publicly traded on the TSX Venture Exchange under the symbol “MIB” and on the Berlin and Frankfurt Stock Exchanges under the symbol “NJA”. For more information, please visit www.minaean.com.
On behalf of the Board of Directors
MINAEAN INTERNATIONAL CORP.
“ Mervyn Pinto ”
Mervyn Pinto, President & Director