Pershing Resources Receives Majority Shareholder Vote
Shareholders Approve the Company's Regulation A Filing and Proposed Investment by Blackbridge Capital
RENO, NV -- (Marketwired) -- 07/11/16 -- Pershing Resources Company, Inc. (OTC PINK: PSGR) announced that it has received a majority shareholder vote "in favor" of eight measures proposed at its July 8th Special Shareholders meeting. The Company sought shareholder approval for eight proposals aimed at positioning the Company for growth. Among the measures approved were the proposed Regulation A, (Form 1-A) filing and related investment by Blackbridge Capital, the hiring of an outside accounting firm to prepare the Company's financial statement for audit in the next year and, an initiative to acquire up to 15 additional mineral rights properties over the next five years. Copies of the proxy materials and tabulation results are available on the Company's website at: http://ir.pershingpm.com/otc-filings or, on the Company's OTC Markets listing at: http://www.otcmarkets.com/stock/PSGR/filings.
Steve Plumb, CEO of Pershing Resources stated, "Holding the proxy vote allowed us to connect with our shareholders and involve them in our decision process. We are pleased with the results of the proxy vote and encouraged by the level of shareholder participation we received. We now look forward to completing the SEC qualification process on our Form 1-A Statement and working with our investment partners at Blackbridge Capital to advance our projects and the Company."
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Forward Looking Statements
The information contained in this press release as well as the information on the Company's website is provided solely for the reader's general knowledge. Such information is not intended to be a comprehensive review of all matters pertaining to the Company. Certain statements included herein and on the Company's website, constitute "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, these forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the Company's management. When used in this press release and on the Company's website, the words "estimate," "project," "believe," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and/or achievements of the Company or of the gold mining industry in general to be materially different from future results, performance and/or achievements expressed or implied by those forward looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties related to fluctuations in gold, silver and other commodity prices, uncertainties relating to interpretation of drill results and the geology of the Company's properties, uncertainty of estimates of capital and operating costs, the need for cooperation of government agencies in the development of the Company's mineral projects, the need to obtain additional financing to develop the Company's mineral projects, the possibility of delay in development programs or in construction projects, and uncertainty of meeting anticipated program milestones for the Company's mineral projects.
All forward-looking statements are expressly qualified in their entirety by this cautionary notice. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company has no obligation, and expressly disclaims any obligation, to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.
About Pershing Resources
Pershing Resources is a development stage precious metals producer, focused on projects located in North America. The Company is based in Reno, Nevada and owns a development facility near Kingman, Arizona.
Our strategy is built on three basic components; the acquisition of U.S. domestic properties near mines with historical precious metals production, the development of high tonnage projects on commercially viable grades of precious metals with proximity to historical occurrences and, the application of leading edge technologies to develop efficient and environmentally favorable extraction and recovery processes. This three-tier strategy supports our short and long-term goals of positive cash flow, profitability and growing shareholder value through expansion. Supplemental to our strategy, we are focused on five key attributes. Those being; pursuit of quality growth, maintaining low cash costs, prudent financing and fiduciary practices, building a strong balance sheet and, conducting business in a responsible manner.
The Company's current assets are comprised of three properties with projects currently in development. The largest being the Marco Project located near Lovelock, Nevada was acquired in 2004. Two projects were acquired in 2015. The New Enterprise and Gold Lake Projects are located near Kingman, Arizona. The Company is presently in various stages of development on each of these properties. As opportunities arise, the Company will seek to strengthen its balance sheet through acquisition. Pershing Resources is committed to responsible mining practices and, we believe, is positioned to deliver sustained growth and performance for years to come.
200 South Virginia Street, 8th Floor
Reno, NV 89501
Source: Pershing Resources Company, Inc.
Released July 11, 2016