Ravenswood Import Export Limited Liability Company signed a letter of intent to acquire Purespectrum, Inc. (OTCPK:PSRU) from Mining Global Inc. (OTCPK:MNGG) for $0.24 million in cash and promissory note on September 10, 2014. Under the terms, the purchase price will consist of $0.05 million in cash and an unsecured promissory note of $0.19 million with interest accruing at 6% annually, due in full in 90 days from the closing date. Ravenswood will acquire all stock, assets and assume all liabilities of Purespectrum.

Purespectrum and Mining Global will not solicit any offer for the period of 21 days from the date of this letter. Purespectrum and Mining Global will provide all the necessary information pertaining to due diligence by Ravenswood. The transaction will be terminated if not completed by September 21, 2014.

Ravenswood can cancel the transaction after review of due diligence. Ravenswood Import Export Limited Liability Company completed the acquisition of Purespectrum, Inc. (OTCPK:PSRU) from Mining Global Inc. (OTCPK:MNGG) on October 6, 2014.