TMCnet News

JMCP Corp.: Stock Acquisition Deal Closed
[January 25, 2008]

JMCP Corp.: Stock Acquisition Deal Closed

(M2 PressWIRE Via Thomson Dialog NewsEdge)

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 and

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]

((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 on the world wide web. Inquiries to
[email protected])).

Copyright ? 2008 M2 Communications Ltd.

[ Back To's Homepage ]