Plateau Mineral Development, Inc. to Acquire BEEMA-Pakistan Adding Current Revenues of $460,000,000 and Projected Revenues of 2.3 Billion and Providing International Surety for All Delivery Destinations
NEW YORK, NY, Feb 11, 2011 (MARKETWIRE via COMTEX) -- Plateau Mineral Development, Inc. ("Plateau Metals") (PINKSHEETS: PMDP) announced it executed a Letter of Intent to acquire BEEMA for approximately USD$58,000,000 via a secondary stock offering.
To satisfy international regulatory requirements, the Company has obtained a financial guarantee for the full amount of the secondary offering with funds secured and verified with Deutsche Bank.
Management believes the transaction will create the largest precious metals transshipment, refining, and surety operation in the world.
The acquisition adds current revenues of approximately $460,000,000 and projected revenues of $2.3 Billion with $58.4 Million in current Assets.
BEEMEA will provide the Company's surety services and operations for all international final sale-delivery transactions across all time-zones.
The acquisition calls for the creation of new BEEMA capital stock and resale across multiple markets. The Company will not issue Common Stock to acquire BEEMA but will create a new designation of Preferred Stock as pari-passu consideration for the acquisition. Current shareholders are expected to enjoy significant equity appreciation through this structure transaction.
The acquisition is subject to international regulatory approvals which the Company believes will be timely granted without objection or comment.
The Company will publish pro-forma financials representing the combined entities.
NEW YORK, NY, Feb 11, 2011 (MARKETWIRE via COMTEX) -- Plateau Mineral Development, Inc. ("Plateau Metals") (PINKSHEETS: PMDP) announced it executed a Letter of Intent to acquire BEEMA for approximately USD$58,000,000 via a secondary stock offering.
To satisfy international regulatory requirements, the Company has obtained a financial guarantee for the full amount of the secondary offering with funds secured and verified with Deutsche Bank.
Management believes the transaction will create the largest precious metals transshipment, refining, and surety operation in the world.
The acquisition adds current revenues of approximately $460,000,000 and projected revenues of $2.3 Billion with $58.4 Million in current Assets.
BEEMEA will provide the Company's surety services and operations for all international final sale-delivery transactions across all time-zones.
The acquisition calls for the creation of new BEEMA capital stock and resale across multiple markets. The Company will not issue Common Stock to acquire BEEMA but will create a new designation of Preferred Stock as pari-passu consideration for the acquisition. Current shareholders are expected to enjoy significant equity appreciation through this structure transaction.
The acquisition is subject to international regulatory approvals which the Company believes will be timely granted without objection or comment.
The Company will publish pro-forma financials representing the combined entities.
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