Franklin Clarifies Status of Franklin Oil and Gas International, SA
December 17 2008 - 11:39AM
Marketwired
Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) CEO
William Petty has issued the following statement responding to
concern raised following recent news about a similarly named
company.
"Franklin Oil and Gas International, SA was formed to satisfy
legal requirements for Franklin Mining, Inc. to conduct business in
Argentina and is the corporate entity currently negotiating to
construct and operate a gas-to-liquid processing plant and other
energy projects in Argentina. Franklin Mining, Inc. holds 51%
ownership of Franklin Oil and Gas International, SA.
"A recent news report in Argentina concerning the pending
dissolution of a similarly named company has generated concern for
the status of our gas project. The company most frequently named in
questions we've been receiving is Franklin Oil and Gas, Argentina
SA. On the advice of legal counsel, this company was formally
dissolved when Franklin Oil and Gas International, SA was formed
and organized in full accordance with Argentina's requirements of
foreign companies.
"Neither Franklin Mining, Inc. nor Franklin Oil and Gas
International, SA are involved in the reported dissolution
procedures."
About Franklin Mining, Inc: Franklin Mining, Inc. has mining and
energy interests in the United States and Bolivia as well as energy
interests in Argentina. Franklin Mining, Bolivia is a branch
company of Franklin Mining, Inc.
Franklin Mining, Inc. holds 51% ownership in both Franklin Oil
& Gas, Bolivia S.A. and Franklin Oil & Gas International
S.A. Additional information is available at
www.FranklinMining.com.
DISCLOSURES: "Safe Harbor" statement under the Private
Securities Litigation Reform Act of 1995: This press release
contains forward-looking statements that are subject to risk and
uncertainties, including, but not limited to, the impact of
competitive products, product demand, market acceptance risks,
fluctuations in operating results, political risk and other risks
detailed from time to time in Franklin Mining, Inc.'s filings with
the Securities and Exchange Commission. These risks could cause
Franklin Mining, Inc.'s actual results to differ materially from
those expressed in any forward-looking statements made by, or on
behalf of, Franklin Mining, Inc.
For further information, please visit our website
(www.FranklinMining.com) or contact our Investor Relations firm, A.
S. Austin & Company, 702-386-5379.
Contact: Investor Relations firm A. S. Austin & Company
702-386-5379
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