Perihelion Global Completes Acquisition of 299 Acres From Meridian Land and Minerals, LLC Near Company's Patented Gold Mine
Tuesday April 24, 11:49 am ET
WILMINGTON, DE and SALT LAKE CITY, UT--(MARKET WIRE)--Apr 24, 2007 -- Perihelion Global (Other OTC:PHGI.PK - News) announced that the corporation has formally acquired a 251-acre parcel of land, including mineral rights and a previously unannounced additional 48 acres with active rail service from Meridian Land and Minerals, LLC located near the company's Patent Claim
#5797 located in Box Elder County, Utah.
The 251-acre parcel is located near from the company's Patent Claim
#5797 and has state highway access and active rail service through a 10-acre corner section of the property along with electrical power and water. The 48-acre parcel consists primarily of frontage for an active railroad.
Patent Claim #5797 has been assayed in separate geological reports to have 1,277,950 oz of Gold deposits, currently worth in excess of $745 Million USD ($745,000,000.00).Financial consideration to Meridian Land and Minerals, LLC for both the 251-acre parcel and the 48-acre parcel consisted of cash and restricted stock.
"The completion of this acquisition allows our company a strategic economic and operational advantage. We can now choose to either extract and process our precious metals on site, or use the property as a staging area to transport our raw ore or refined metals to market or other refiners; or combinations thereof," stated John H. Beebe, Chairman, Chief Executive Officer and President of Perihelion Global. Adds Beebe, "We now have complete flexibility to choose the most profitable way to extract and process our precious metals, combined with the flexibility of having several different existing modes of transportation on our property. We feel the wisdom of this acquisition will reap dividends for our company and shareholders for quite some time."
About Perihelion Global:
Perihelion Global focuses on the acquisition, development and management of technologies and strategic commodity reserves in the energy, natural resource and advanced communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of the 21st Century in environments that are mission critical in the global marketplace. For more information, visit: www.perihelion.com.
Caution Regarding Forward-Looking Statements
This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.
These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:
-- General economic conditions, either nationally or in our market area,
that are worse than expected;
-- regulatory and legislative actions or decisions that adversely affect
our business plans or operations;
-- price competition;
-- inflation and changes in the securities markets that adversely affect
the fair value of our operations; and
-- changes in our organization, compensation and benefit plans.
We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact:
Contacts:
John H. Beebe
Chairman, Chief Executive Officer & President
Perihelion Global
866-748-7610 (Toll Free) x 719
john@perihelion.com
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Source: Perihelion Global
