Guys pardon my frustration earlier...Everyone have a Happy Thanksgiving!
Money Guild Inc. Announces Joint Venture
PR Newswire, Wednesday, November 25, 1998 at 11:19
NEW YORK, Nov. 25 /PRNewswire/ -- Money Guild Inc. (the Company), is
pleased to announce that it has signed a Letter of Interest with VEAMCO,CA. of Venezuela to acquire a 50% interest in their 355,000 acre wood cutting lease agreement which is leased by VEAMCO in neighboring Guyana. The Letter of Interest is the prerequisite to a 50/50 Joint Venture Agreement that is proposed between Money Guild Inc., and VEAMCO. Additionally, because of the close proximity to Venezuela, VEAMCO has documented permission to transport
the lumber from Guyana through Venezuela and also has documented cutting rights to immediately harvest the timber within its lease.
VEAMCO, CA.:
VEAMCO, CA. is a Venezuelan-American Company licensed and registered as an Import-Export Company in Venezuela. The Company holds timber and gold concessions in both the countries of Venezuela and Guyana and owns Makapta Woods Limited with offices in Georgetown, Guyana and Maboca Maderas, CA., a Venezuelan Company with offices in Puerto Ordaz, Venezuela. Commenting on the joint venture, Mr. Tony D. Lanham, serving as President and CEO of VEAMCO, CA. states, "I am elated with our new association with Money Guild Inc. With the synergies created by the depth of Money Guild Inc. we anticipate that our goals of model production programs and harvest to target market will be reached far earlier than anticipated with the public market expertise provided by our new partners." Mr. David Phipps, Director and Secretary of Money Guild Inc. states, "It is our belief that the hands on project development policy and ethical eco-management of the farsighted VEAMCO management team will serve
our shareholders well in both the near and long term."
TIMBER CRUISE:
Money Guild Inc. has authored a "Timber Cruise" on an initial 10,000 acres of the 355,000 acres of the Guyana concession in order to quantify and qualify the types of wood and approximate densities per acre. Forestry Engineers,independent of both Companies are presently conducting the timber cruise. The results of this timber cruise should be available within 10 days and will be released to the public as soon as they are available.
HARDWOOD BUYERS:
Money Guild Inc. bas received expressions of interest from several prospective buyers with respect to the purchase of product. It is the Company's intent to have a primary buyer with up to five or six secondary buyers to ensure continuous harvest to market flow.
The principle objective of Money Guild Inc., is to enhance shareholder value through development and production of their exotic hardwood, mineral, and granite projects to maximum potential while ensuring sound eco-management and conservative conservation practices.
For investor relations, please contact Denis Diggins at 905-892-1582.
ON BEHALF OF THE BOARD
"David Phipps"
Per. David Phipps
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 Money Guild 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
results could differ materially from those anticipated 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.
SOURCE Money Guild Inc.
-0- 11/25/98
/CONTACT: Denis Diggins of Money Guild, 905-892-1582/ |
