El Maniel International Inc Enters Into Definitive Agreement With Agona Rural Bank to Acquire 20% Stakes of the Rural Community
February 28 2011 - 11:18AM
El Maniel International Inc (Pink Sheets:EMLL) Chief Executive
Officer, Jamie Khoo, has announced today that on 16 February 2011,
the company has entered into a Definitive Agreement with Agona
Rural Bank who was represented by its Managing Director, Mr John
Ofori Jr., under its Rural Community Bank Acquisition Program to
acquire 20% stakes of the rural community bank. "We are very
pleased with this landmark initiative in the African continent and
we are very excited about the underlying synergies and
opportunities in next phase of our mutual endeavors, which
presented an outstanding milestone towards the collective benefits
in favor of our shareholders, customers, employees and the
community served," stated Jamie Khoo, who is also the President of
El Maniel International Inc.
Agona Rural Bank is headquartered in Agona Kwanyako in the
Central Region of Ghana, West Africa and Agona Rural Bank brings to
the affiliation a large array of banking and investment
opportunities, as well as a stellar record of earnings and
dividends growth. "El Maniel International Inc will re-energize
Agona Kwanyako's rural banking marketplace with focus on fostering
loans to small medium enterprises while indirectly maximizes and
expands the capabilities of its gold trading arm, EMLL Mining
Limited, by gaining access to a reservoir of resources and network
of small-scale gold miners which will eventually increase the
company's bottom-line," according to Jamie Khoo. "The Definitive
Agreement has been approved by the board of directors of Agona
Rural Bank and the acquisition is expected to close by Q3 of 2011
where El Maniel International Inc will also be appointing 2
representatives to the board of the esteemed rural community
bank."
El Maniel is currently focused on prospecting, developing and
expanding the economic potential of world class mining claims
located in Ghana, West Africa and the company is committed to
shareholder's value creation by ensuring constant development of
current and new resources in the region. For further information
and updates on El Maniel, stay tuned to www.elmaniel.com
"SAFE HARBOR " STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: The statements contained in this release which
are not historical facts are forward-looking statements that are
subject to risks and uncertainties that could cause actual results
to differ materially from those set forth in or implied by
forward-looking statements. These risks and uncertainties include
the Company's entry into new commercial businesses, the risk of
obtaining financing, recruiting and retaining qualified personnel,
and other risks described in the Company's Securities and Exchange
Commission filings. The forward-looking statements in this press
release speak only as of the date hereof, and the Company disclaims
any obligation to provide updates, revisions or amendments to any
forward-looking statement to reflect changes in the Company's
expectations or future events
CONTACT: El Maniel International, Inc.
Investor Relations Contact:
212-726-2179
IR@elmaniel.com
El Maniel (CE) (USOTC:EMLL)
Historical Stock Chart
From May 2024 to Jun 2024
El Maniel (CE) (USOTC:EMLL)
Historical Stock Chart
From Jun 2023 to Jun 2024