NYMET Holdings Inc. (NYMH) Announces Final Step Initiated in Reorganization Plan
May 04 2009 - 3:11PM
Marketwired
NYMET Holdings Inc. (PINKSHEETS: NYMH), an innovative metals and
mining holding company headquartered in Port Jefferson Station,
N.Y., today announced that its board of directors has approved a
10-for-1 reverse stock split of the Company's Preferred Series C
shares. The reverse split is the final step of the Company's
reorganization plan and is effective 20 days as of the date of this
announcement.
Upon completion of the reverse split the Company will
effectively have 630,348 Preferred Series C shares outstanding.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Statements in this news release other than statements of
historical fact are "forward-looking statements" that are based on
current expectations and assumptions. Forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by the
statements, including, but not limited to, the following: the
ability of NYMET Holdings, Inc. to provide for its obligations, to
provide working capital needs from operating revenues, to obtain
additional financing needed for any future acquisitions, to meet
competitive challenges and technological changes, and other risks.
NYMET Holdings, Inc. undertakes no duty to update any
forward-looking statement(s) and/or to confirm the statement(s) to
actual results or changes in NYMET Holdings, Inc. expectations.
Contact: Mark Daniel Klok NYMET Holdings, Inc.
www.nymetholdings.com Email Contact (631) 680-8135