OREX 10sb out stock moving up! IT looks like Orex owns the Santa Maria mine..... The value of the silica has not been determined yet..... But
at 99.96% what do you think a life time is worth?
CORAL GABLES, Fla.--(BUSINESS WIRE)--Jan. 31, 2000--Orex
Corporation ("Orex") (OTCBB:ORXXE) announced today that Orex has
filed Form 10-SB registration statement to become a fully reporting
company with the Securities and Exchange Commission (SEC).
The Form 10-SB has been filed electronically on EDGAR, the
electronic repository for public company reports. Orex will file all
subsequent reports, such as 10QSB and 10KSB in this manner. Orex is
also in the process of completing their audit for the 10KSB, which is
due by March 30th, 2000. The company would also like to note that even
though the financial statements for the period ending September 30th,
1999 reflect total assets of $18,217,671, it does not include silica
in its reserves. Therefore, Orex will hire a registered professional
geologist to evaluate the silica reserves. The addition of certified
silica reserves should enhance the asset valuation of Orex.
"The filing of the Company's Form 10-SB registration statement
with the SEC represents a significant public market event for our
company, " stated Warren Hemedinger, President, Orex Corporation.
"Full reporting status is very important to us during our next phase
of growth. As a reporting company, we hope to attract institutional
and professional investors. This helps us in continuing to concentrate
on building a financially strong company."
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance and
underlying assumptions, and all statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, and other risks defined in this document. These cautionary
statements expressly qualify all such forward-looking statements made
by or on behalf of Orex. In addition, Orex disclaims any obligation to
update any forward-looking statements to reflect events or
circumstances after the date hereof.
--30--cp/mi*
CONTACT: Orex, Coral Gables
Investor Relations Contact:
Greg Finney, 305/444-5890
or
Jeff Blackburn, 520/668-0460
KEYWORD: FLORIDA
INDUSTRY KEYWORD: MINING/METALS
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JCNelson
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