Plateau Mineral Development, Inc. to Acquire BEEMA-Pakistan Adding Current Revenues of $460,000,000 and Projected Revenues of 2.
February 11 2011 - 8:30AM
Marketwired
Plateau Mineral Development, Inc. ("Plateau Metals") (PINKSHEETS:
PMDP) announced it executed a Letter of Intent to acquire BEEMA for
approximately USD$58,000,000 via a secondary stock offering.
To satisfy international regulatory requirements, the Company
has obtained a financial guarantee for the full amount of the
secondary offering with funds secured and verified with Deutsche
Bank.
Management believes the transaction will create the largest
precious metals transshipment, refining, and surety operation in
the world.
The acquisition adds current revenues of approximately
$460,000,000 and projected revenues of $2.3 Billion with $58.4
Million in current Assets.
BEEMEA will provide the Company's surety services and operations
for all international final sale-delivery transactions across all
time-zones.
The acquisition calls for the creation of new BEEMA capital
stock and resale across multiple markets. The Company will not
issue Common Stock to acquire BEEMA but will create a new
designation of Preferred Stock as pari-passu consideration for the
acquisition. Current shareholders are expected to enjoy significant
equity appreciation through this structure transaction.
The acquisition is subject to international regulatory approvals
which the Company believes will be timely granted without objection
or comment.
The Company will publish pro-forma financials representing the
combined entities.
The Company is completing its main disclosures and financial
statements and will file these immediately subsequent to the
consolidation of the company's new incoming operations. The Company
expects this to occur within 7 business days.
The Company intends to complete its USA-compliant financial
audits and register its securities with the US Securities and
Exchange Commission.
The Company will release certain revenue projections in the days
to follow.
About Plateau
Plateau Metals provides precious metal shipping, access to
production, transaction underwriting, and related services. Plateau
operates across the world through its agents and offers service to
multiple jurisdictions. Plateau offers complete solutions to buyers
and sellers of precious metals that include storage, shipping, and
transaction underwriting and arbitrage.
Plateau also acquires, develops, integrates and operates
strategically aligned precious metal assets in worldwide markets
where expansion is planned through additional investments to
support organic growth; thereby providing significant revenue, and
equity growth.
The company's operations are distributed across multiple
international time zones with executives and agents located in
client-appropriate locales. The company's website is
www.plateaumetals.com.
Safe Harbor Statement:
This information includes certain "forward-looking statements."
The forward-looking statements reflect the beliefs, expectations,
objectives and goals of the Company management with respect to
future events and financial performance. They are based on
assumptions and estimates, which are believed reasonable at the
time such statements are made. However, actual results could differ
materially from anticipated results. Important factors that may
impact actual results include but are not limited to commodity
prices, political developments, legal decisions, market and
economic conditions, industry competition, the weather, changes in
financial markets and changing legislation and regulations. Matters
discussed in this press release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include
but are not limited to risks and uncertainties associated with the
impact of economic, competitive and other factors affecting the
Company and its operations, markets, product, and distributor
performance, the impact on the national and local economies
resulting from terrorist actions, and U.S. actions subsequently;
and other factors detailed in reports filed by the Company.
Forward-looking statements are intended to qualify for the safe
harbor provisions of Section 21E of the Securities and Exchange Act
of 1934, as amended.
CONTACT: Plateau Metals Investor Relations New York:
1.917.463.3364 London: +(44) (0)20 337 17122 Fax: +(44) (0)208 338
0655 info@plateaumetals.com
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