JPX Global, Inc. entered into a Joint Venture agreement with CGrowth Capital, Inc. to extract and sell sand and gravel from the 15-acre Chewelah Community Pit located near Colville, Washington. The initial contract is for the removal of 49,900 cubic yards of material with a potential gross value exceeding $640,000. The company is working with CGrowth and the Bureau of Land Management to increase the quantity of material to be extracted and sold to 2,000,000 cubic yards over a 5-year period.

The contract calls for total payments of $350,000 in working capital to the project within the next 30 days. The company has paid $50,000 towards the initial startup expenses. CGrowth is obligated to oversee and provide operational, on-site, and sales support in respect to the Chewelah Community Pit operation.

Pursuant to the Joint Venture Agreement, the company will receive 51% and CGrowth will receive 49% of the net proceeds from the sand and gravel pit.