Monday September 25, 9:09 am Eastern Time
Press Release
NP Energy Corporation Acquires Interest in Bolivian Hardwood Corporation
LAKE ELSINORE, Calif.--(BUSINESS WIRE)--Sept. 25, 2000--Management of NP Energy Corporation is pleased to announce that it has completed negotiations to acquire a significant interest in Bolivian Hardwood Corporation. Bolivian Hardwood Corporation is currently engaged in harvesting timberlands in Bolivia - lands that are covered with many valuable species of hardwood and softwood now marketed in the United States, Canada and other countries. Bolivian Hardwood has offices and operations in Canada, United States and Bolivia.
NP Energy Corporation has acquired a ten percent (10%) interest in Bolivian Hardwood Corporation and has an option to acquire an additional thirty nine percent (39%) over a 5-year period.
NP Energy Corporation plans to raise several million dollars in order to expand operations of Bolivian Hardwood to further develop markets for the lumber produced and to substantially increase the company's timber acreage position in Bolivia.
The Directors of NP Energy Corporation are also pleased to announce that Mr. Harold Jolliffe has joined the Board of Directors of the company. Mr. Jolliffe is currently one of the principals in Bolivian Hardwood Corporation and has decades of experience in all aspects of forestry, logging and saw milling. Mr. Jolliffe previously held important educational posts with forestry departments in British Columbia's leading secondary education institutions.
Management of NP Energy Corporation firmly believes that the acquisition of this interest in Bolivian Hardwood Corporation and the addition of Mr. Harold Jolliffe to the Board of Directors, will quickly move the company forward following its recent reorganization that was approved at the Special Stockholder's Meeting May 22, 2000.
For further investor information, contact (801) 463-6362, or access the web site at npenergy.com
Note: This News Release may contain certain ``forward-looking statements'' within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Medinah Mining, Inc. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future could differ materially from those anticipate in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading ``Risk Factors'' and elsewhere in documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
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Contact:
NP Energy
Investor Relations, 801/463-6362
Fax: 801/463-1780 |
