NEW YORK, NY--(Marketwire - 09/14/09) - NYMET Holdings Inc. (Pinksheets:NYMH - News), an innovative metals and mining company headquartered in Port Jefferson, N.Y., announced today the successful execution of a Lease Purchase Contract to acquire a marine salvage and storage facility located in Stockton, California. The acquisition, which includes two waterfront parcels, as well as riparian rights, provides NYMET a strategic location to expand their Marine Salvage Division for scrap metal recovery.
The property, located on the waterfront of the San Joaquin River, in Stockton, California will provide NYMET the ability to process and transport scrap metal derived from the salvage and ship breaking opportunities available on the west coast of North America. The facility provides access to the Delta waterway as well as the ability to park salvage barges.
In addition to being one of the last waterfront properties permitted for storage and marine salvage operations, the Property's proximity to Oakland's port also enables NYMET to export material to Asia extremely cost effectively. The facility, with its riparian rights, also allows NYMET to have barges "parked" at their facility and provides an enormous logistical advantage.
This acquisition marks yet another significant milestone for NYMET and their shareholders. The acquisition positions NYMET to recognize significant cash flow from their marine salvage operations.
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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