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JMCP Corp.: Stock Acquisition Deal Closed(M2 PressWIRE Via Thomson Dialog NewsEdge) RDATE:25012008 James Monroe Capital Corporation (Pinksheets: JMCP) has signed a definitive agreement with Khangolov Resources regarding its oil and gas contracts, and other related mining assets, in exchange for a large portion of ownership in their mining group. The company has completely divested itself of its oil and gas contracts, and other related assets which are now in a separate company, Khangolov Resources, run by Frank Love, which now has nothing to do with James Monroe Capital, other than the fact that James Monroe Capital is now a non-managerial shareholder in that company. The stock to be received by James Monroe Capital has dividend rights, is non-dillutable for one year, and will be free trading after Khangolov Resources completes all necessary SEC filings to improve the corporation and establish it as being publicly traded. One option being considered is to give all shareholders a free-trading stock dividend of the newly acquired stock. Its been over a year since James Monroe Capital paid out a dividend, and the option may have merit. The company expects its higher share price (after the 10,000:1 reverse stock split, with a record date of January 31, 2008) to help the company to look more solid to businesses it hopes to acquire as it continues to attempt to acquire its next business and attract new management to maximize shareholder value. A little over a year ago, James Monroe Capital gave out a proportionately large dividend of what is now GRCO stock to its shareholders. GRCO is a credible company, which was founded by Taylor Moffitt. They design and build biofuel plants, and have ethanol industry pioneer Floyd Butterfield on their board, inventor of the award winning system they use, which is actually turning recycled garbage into ethanol. The company is working with the "#5 accounting firm" McGladry for its financials, and has secured a contract to build a plant in Pomona, CA. After reviewing the feasibility study, the customer increased the order and opted for a larger sized plant. While past performance is no indication of future performance, James Monroe Capital is definitely considering another stock dividend, but this time in free trading stock. As a courtesy to its shareholders, and due to popular request, the company will attempt better and more regular communication with the public, and will pass on information obtained on an "as received" basis, without positive or negative comments. The following report was given to James Monroe Capital by Khangolov: "Frank Love, President of Khangolov Resources Inc., is pleased to announce the acquisition of an alluvial mine located in Guyana, South America. The mine has been sought after for some time by different parties including publicly-traded mining companies as well as established mining companies located in neighboring Brazil and Venezuela. The property is located along the Mazaruni River which has history of housing both diamonds and gold. Frank Love comments on the property and its location, I like Guyana since it is the only English-speaking country in South America. I was attracted to this property not only because it borders on the Mazaruni River but, more importantly, geological maps indicate that the Mazaruni actually ran through it many years ago. Diamonds should, therefore, be plentiful.' Additional details of this and other projects will be released shortly." For more information on Khangolov Resources, please contact them directly at 254-458-0473. For more information on Greenbelt Resources Corporation, please visit their websites at www.diversifiedethanol.com and www.greenbeltresources.com. James Monroe Capital is not qualified to comment on the valuation of other companies' stock, nor will it do so. This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. CONTACT: Chris McGovern, James Monroe Capital Tel: +1 515 293 9187 e-mail: [email protected] WWW: http://www.jamesmonroecapital.com ((M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [email protected])). Copyright ? 2008 M2 Communications Ltd. |