Pearl Asian Mining Issues Progress Report on Transfer Agents Processing Relating to Corporate Actions
15:40 14.11.07
MANILA, Philippines--(BUSINESS WIRE)--Pearl Asian Mining Industries, Inc., Stock Symbols: USA (OTC Common
Shares: PAIM); (OTC Preferred Shares: PAIIP); Germany (Xeta: R1z.De) and
(Frankfurt: R1z.F) today announced that as of November 9, 2007, the
companys transfer agent has completed
processing all certificates and payments relative to all documents
submitted by shareholders and holders of debentures concerning the 95%
Buy Back of the companys Common Shares, the
mandatory recall of the Convertible Debentures and the 1 for 7,000,000
reverse split of all Preferred Shares.
Individuals having submitted materials but not having received reissued
certificates and/or payment from the transfer agent by Friday, November
16, should contact the following:
AGN Associates, LLC
5431 Auburn Blvd. -
#178Sacramento, CA 95841
916-760-7712, fax 916-313-8828
Email - agnassociates@yahoo.com
In other developments, Randolf Villanueva, the Pearl Asians
president and CEO in the Philippines, is spearheading the effort to
procure the MPSA (Mineral Production Sharing Agreement) and the renewal
of the current SSMP (Small Scale Mining Permit), due to be renewed by
November 22, 2007. The SSMP renewal and the passage of a municipal
resolution -- essentially municipal permission to proceed with the
mining project -- requires that the company obtain an approved
environmental certificate (ECC), which is expected within the next week
to 10 days.
Once we have obtained the renewal of our
SSMP, we will concentrate our efforts on obtaining the MPSA (Mineral
Production Sharing Agreement). We remain enthusiastic about the role we
foresee for the company in changing the face and the economics of mining
in the Philippines, said Exec. President
Villaneuva.
ABOUT THE COMPANY
Pearl Asian Mining Industries, Inc. is an international mining company
engaged in the exploration and commercialization of new and
underdeveloped mine sites, primarily gold and other precious and
strategic metals. The company currently owns 12 mining claims in British
Columbia, Canada. Additionally, under a Philippines Mineral Production
Sharing Agreement (MPS) with the government of the Republic of the
Philippines, the company, through aggregation of manpower and production
among small-scale miners and indigenous peoples, intends to capitalize
on economies of scale in gold and silver extraction, processing and
commodities selling and trading. Pearl Asian Mining is committed
to the implementation of sustainable green technologies to achieve
fiscal strength based on the principle of Profit-People-Planet.
Management continues to focus on achieving profit, while
conducting business with utmost consideration and compassion for people
and protection of our planet and the environment.
FORWARD STATEMENTS:
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements in this release
include statements regarding the Company's projections regarding gold
production in future periods. Factors that could cause actual results to
differ materially from anticipated results include risks and
uncertainties such as: risks relating to estimates of reserves, mineral
deposits and production costs; mining and development risks; the risk of
commodity price fluctuations; political and regulatory risks; risks of
obtaining required operating permits and other risks and uncertainties.
Penny Stocks are very highly speculative and may be unsuitable for all
but very aggressive investors. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
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prohibited without prior written permission.
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