FREEHOLD, N.J., April 24, 2013 /PRNewswire/ -- Mabwe
Minerals Inc. (symbol: MBMI) (OTCQB-News), is pleased to announce
it has completed restructuring with the final transition from RPTN
to MBMI as addressed in the company's recent SEC 10K filing.
Mabwe Minerals management has worked diligently to lower the
company's financial liabilities, increase shareholder value and
present a clean balance sheet to the investment community as the
company begins transitioning from a development phase company to a
mining & minerals production company.
(Logo: http://photos.prnewswire.com/prnh/20130424/PH99817LOGO
)
Mabwe Minerals Inc. (MBMI): Key Highlights
Increased Total Assets 476%
Decreased Total Liabilities 99%
All prior RPTN conversion option liabilities retired ($11,789,870)
All prior RPTN senior convertible notes payable retired
($11,012,854)
All salaries reduced from "$353,198"
to "$0"
Outstanding common shares @ 135,585,750 with ~8M shares in the
float
Acquired a 25% equity position in WGB Kinsey & Company
Acquired 100% of Dodge Mine
Secured the company's 1st $9,000,000
barite purchase order
Secured a total net deferred tax asset of $27,738,000
http://www.sec.gov/Archives/edgar/data/1163300/000114420413017951/v337746_10k.htm
Mabwe Minerals is entering the early stages of bringing a new
high quality source of barite into commercial production.
Barite is used as a weighting agent in the oil & gas drilling
sector to offset formation pressures during the drilling process.
Other barite applications include paint, automotive and
medical.
The company has entered into a Master Supplier Agreement
representing 3,000,000 tons of crude barite at a rate of 220,000
tons/year to support the oil & gas drilling needs of the
Gulf of Mexico, home to the
largest concentration of active deep water drilling rigs.
Dodge Mine barite production will be managed by Mabwe Minerals'
minority owned WGB Kinsey & Company, one of Zimbabwe's most experienced mining and
construction companies representing 4 generations of Kinsey family
leadership.
We would like to encourage new or potential investors to review
our corporate web site on a regular basis with further attention to
our Corporate Briefings section. We have two Newsletters,
Raptor News and Raptor Talk, that are directed to our shareholders
keeping our investors updated with real time information during
periods in-between press releases or SEC filings. We are
continuing to expand our investor communication tools to include
Facebook and Twitter in the coming months along with the pending
release of our mobile web site tailored to the growing mobile media
market.
Al Pietrangelo, MBMI CEO &
President stated, "As we begin the journey together moving from a
development phase company into commercial barite production, we are
honored to present a clean bill of health on your company, Mabwe
Minerals Inc. Our team takes no salary. Like you, we
are investing into the success of our company no different than our
investors. As we enter this transitionary period, we are
please to report the company has reduced Total Liabilities by 99%,
retired both Conversion Option Liabilities and Senior Convertible
Notes totaling $22.8M and secured a
total net deferred tax asset of $27.7M."
Raptor Resources Holdings Inc. (parent/holding Company)
Raptor Resources Holdings Inc. (OTCQB symbol: RRHI) is the
parent/holding company with two independently operating
subsidiaries: Mabwe Minerals Inc. and TAG Minerals Inc. To find out
more about Raptor Resources Holdings visit
(www.raptorresourcesholdings.com).
About Mabwe Minerals Inc.
Mabwe Minerals Inc. (symbol: MBMI), incorporated in Wyoming, is a U.S. based natural
resources and hard asset OTCQB publicly traded, fully reporting
company engaged in the mining, logistics and commercial sales of
industrial minerals and metals, with its first focus on
barite. The company's operations are conducted through its
Zimbabwe affiliate, Mabwe
Corporation (Private) Limited. Raptor Resources Holdings owns
90 million shares of Mabwe Minerals or approximately 66.4% of its
issued and outstanding shares of common stock.
About TAG Minerals Inc.
TAG Minerals Inc., incorporated in Wyoming, is a U.S. based mineral/metal
resource acquisition, exploration and development company. The
company, with operations conducted through its Zimbabwe affiliate, TAG Minerals Zimbabwe
(Private) Limited, is responsible for alluvial surface gold
production along with the development of greenfield assets
targeting bedrock gold and other industrial metals/minerals. To
find out more about the mining equipment utilized by TAG, visit
(www.extrac-tec.com).
Safe Harbor.
Statements regarding financial matters in this press release
other than historical facts are "forward-looking statements"
("FLS") within the meaning of section 27A of the Securities Act of
1933, Section 21E of the Securities Exchange Act of 1934, and as
that term is defined in the Private Securities Litigation Reform
Act of 1995. FLS include statements predictive in nature, depending
upon or referring to future events/ conditions, including words
like "believes," "anticipates," "intends," "plans," "expects," and
similar expressions. Statements concerning future financial
performance (revenues, earnings, and growth rates), ongoing
business strategies / prospects, and future actions, which may be
provided by management, are also FLS as defined by the Act. The
actual and any future results, performance or achievements of the
Company, expressed or implied, may be materially different and vary
significantly for different reporting periods due to FLS that
involve known and unknown risks and other factors. Management
believes that the assumptions made and expectations reflected in
the FLS are reasonable. There is no assurance that the
underlying assumptions will prove to be correct and the actual
future results may be different from expectations expressed
above. These statements are not guarantees of future
performance. Raptor Resources Holdings Inc. and Mabwe
Minerals Inc. have no specific intention to update these
statements.
SOURCE Raptor Resources Holdings Inc. (RRHI); Mabwe Minerals
Inc. (MBMI)