SOURCE: United Resource Holdings Group, Inc.
RENO, NV--(Marketwire - Jul 16, 2012) - United Resource Holdings Group, Inc. (PINKSHEETS: URHG) ("URHG") announced today that URHG has acquired a control position in Noble Technologies Corp. ("NTC"), which operates a beneficiation facility that recovers precious metals from mineral ores and ore concentrates.
The acquisition of NTC occurred on July 16, 2012 by URHG's private purchase of approximately eighty-seven percent (87%) of the total issued and outstanding common stock of NTC. This acquisition was effected by a share for share exchange of common stock in the ratio of one (1) URHG share for every three (3) NTC shares and the new issuance of 53,150,515 shares of URHG common stock. Prior to the acquisition by URHG, NTC was a privately held company with no public market for its securities.
NTC currently has validly issued operating permits from the Nevada Department of Environmental Protection ("NDEP") in the form of a Water Pollution Control Permit, an Air Quality Class II Permit, and a Mercury de Minimus Permit. NTC is located approximately twenty (20) miles from Reno, Nevada within the Reno-Tahoe Industrial Center in Storey County, Nevada. URHG intends to operate NTC as a majority-owned subsidiary and report NTC's operations on a consolidated basis with URHG's financial statements.
An annual meeting of shareholders of URHG was held on July 6, 2012. At the meeting, the shareholders elected the following directors for the upcoming year: (i) Mr. Robert G. Kilroy, Esq. (Chairman); (ii) Mr. Mark A. Kersey; (iii) Mr. Charles T. Mahoney; (iv) Mr. Robert D. Quinn; and (v) Mr. Dana M. Low.
The newly elected Board of Directors of URHG held its annual meeting immediately following the annual meeting of shareholders of URHG on July 6, 2012, and appointed the following officers: (i) Mr. Mark A. Kersey as President; (ii) Mr. Robert G. Kilroy, Esq. as Secretary; and (iii) Mr. Charles T. Mahoney as Treasurer.
About United Resource Holdings Group, Inc.:
United Resource Holdings Group, Inc. is a U.S.-based natural resource exploration and development company, focused on the acquisition of mining equipment and the development of gold and other precious commodity projects that demonstrate a reasonable probability for near term production. In addition, the company operates a beneficiation process plant that recovers precious metals from mineral ores and ore concentrates on behalf of its captive mining properties and on behalf of third party mining companies. The company is quoted on the OTCPK under the symbol "URHG."
Notice Regarding Forward-Looking Statements:
This news release may contain "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the accomplishment of any of our plans listed for 2012 such as any acquisitions, geophysics, production, construction projects, drilling programs or results from such programs, and the timelines within which such items may be accomplished, as referred to in this news release.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration, development, and production. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and that which is made publicly available by us from time to time.