NEW YORK, NY--(Marketwire - 09/18/09) - NYMET Holdings Inc. (Pinksheets:NYMH - News), an innovative metals and mining company headquartered in Port Jefferson, N.Y., announces the successful completion of negotiations with suppliers based in Puerto Rico for shipments to the Pacific Rim.
As per the Purchase Contract with Hong Kong based scrap steel dealer, Coppola Asia Limited, NYMET has begun loading and shipping HMS 1 & 2 heavy melting scrap steel material. The fully processed material is now ready to be shipped from the Port of San Juan to the Port of Hong Kong. NYMET, through its relationships with Anza Capital Partners and other NYMET affiliated scrap yards, has successfully procured 2,000 to 4,000 metric tons of HMS for shipment to Coppola Asia Limited. These shipments are expected to take place on a monthly basis.
NYMH President, Mark Daniel Klok, stated: "The completion of the first 1,000 metric tons of scrap metal is expected to be before the end of the month. Additionally, NYMET's suppliers have acknowledged that the remaining shipments are underway and are expected to be completed without delays." Mr. Klok went on to state that two additional Purchase Contracts are to be expected by and between NYMET and steel mill plants located in both Korea and Vietnam. Shipments on these contracts aim to be ready in the early fall.
DISCLAIMER: CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The results described herein cannot be guaranteed. 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. These expectations and assumptions are subject to risks and uncertainty, which could affect NYMET Holdings Inc.'s future. 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.'s expectations.
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