New York, NY -- (ReleaseWire) -- 02/22/2013 --Swingplane Ventures, Inc. (OTCQB: SWVI) is reviewing a proposal by AMEC (AMEC International Ingenieria y Construccion Limitada) in Santiago one of the world's leading engineering, project management and consultancy companies for an initial evaluation and report on the Property. The report is expected to provide additional independent evaluation of the Property with further direction regarding development and increased production from the Property.
AMEC is an international consulting firm well recognized in the Mining Industry. Establishing a relationship with AMEC, and subsequently other consulting companies, is expected to provide access to the expertise and personnel required for future work on the Property. Work by AMEC is expected to commence in late March.
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AMR Corporation (OTCQB: AAMRQ), the parent company of American Airlines, Inc., and US Airways Group, Inc. (LCC) announced that the boards of directors of both companies have unanimously approved a definitive merger agreement.
Under the terms of the merger agreement, US Airways stockholders will receive one share of common stock of the combined airline for each share of US Airways common stock then held. The aggregate number of shares of common stock of the combined airline issuable to holders of US Airways equity instruments (including stockholders, holders of convertible notes, optionees and holders of restricted stock units) will represent 28% of the diluted equity of the combined airline. The remaining 72% diluted equity ownership of the combined airline will be issuable to stakeholders of AMR and its debtor subsidiaries that filed for relief under Chapter 11, American's labor unions, and current AMR employees.
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