Announcement from Temple Summit Financial Projects, Inc.
CEDAR HILL, Texas, Apr 7, 2000 (BUSINESS WIRE) -- Temple Summit Financial
Projects, Inc. (OTCBB:TSFPE) is pleased to announce to its shareholders that the
Company is making great progress toward spinning off its assets into Nevada
Mining and Metals Corporation (NMMC), completing the audit required by the SEC,
filing the form 10 required to make TSFP fully reporting and will continue to
aggressively seek a merger candidate.
The Asset Transfer to NMMC:
Currently the Company is in the process of compiling all necessary documentation
needed to effect the asset transfer. As soon as all documents have been
collected and reviewed a Date of Record will be announced. All shareholders of
record on that date will receive shares of NMMC on a "pro rata" basis while
retaining their shares in TSFP. As stated in the press release dated March 17,
2000, the new President and CEO Mr. Calvin (Cal) K. Mees was transferred
approximately 65% of the total outstanding shares to give him control of the
Company and to lead it through the process of fully reporting status and
effecting a merger. As a result of the transfer of shares Mr. Mees will not
receive shares in Nevada Mining and Metals Corporation.
The SEC Audit:
Information has been transferred to the auditor and is being completed as
quickly and diligently as possible in order to be included in the Form 10
required by the SEC. It is the Company's hope that the audit will be completed
in a timely manner.
Form 10 Preparation:
The information is being compiled for the Form 10 and the Form 10 is under
construction. The Company anticipates the Form 10 will be completed as
expediently as possible. When the Form 10 is completed and is deemed effective
by the SEC the Company will be fully reporting. At that time the Company will be
required to file quarterly reports promulgated by the 1934 Securities and
Exchange Act.
Merger Candidate:
Mr. Mees continues to aggressively seek a qualified merger candidate. Ideally a
qualified merger candidate will have a good business plan, product or service,
revenues, and the ability to enhance shareholder value. As soon as a qualified
merger candidate is identified a letter of intent will be signed and announced
to the public.
ON BEHALF OF THE COMPANY
Cal Mees President
This news release may contain forward-looking statements that involve risks and
uncertainties, including the impact of competitive products and pricing, and
general economic conditions as they affect the Company's clients. Actual results
and developments may therefore differ materially from those described in this
release. No regulatory authority has reviewed or accepted any responsibility for
the adequacy or accuracy of the contents of this release.
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
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CONTACT: Temple Summit Financial Projects, Cedar Hill
Cal Mees, 972/293-2424 |
