Pershing Resources Schedules Special Shareholders Meeting and Proxy Vote
The Board of Directors Seeks Shareholder Approval for Measures to Advance the Company
RENO, NV -- (Marketwired) -- 06/07/16 -- Pershing Resources Company, Inc. (OTC PINK: PSGR) announced today that it has scheduled a special shareholders meeting and proxy vote for July 8, 2016. The meeting will be held at 10am in the offices of the Company's outside counsel in New York. Shareholders of record as of May 31, 2016 will receive notification and proxy cards via regular mail.
The Board of Directors of Pershing Resources is recommending that shareholders approve eight measures that are aimed at advancing the Company toward its stated goals of positive cash flow and expansion. The Board believes that these measures are key strategic business initiatives that will serve to position the Company to advance by establishing a set of functional and corporate goals to be implemented over the next 1 to 5 years.
Steve Plumb, CEO of Pershing Resources, stated, "Shareholder approval is a critical element in positioning the Company to succeed. We feel that, by laying down a long term framework and broadly defined business plan as reflected in this proxy, shareholders will be better be informed and will have more insight into the Company's direction and progress."
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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 Company
Pershing Resources is a development stage precious metals producer, focused on mining 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 these historical occurrences and, the application of leading edge technologies to develop highly 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 overall strategy, we are focused on five key attributes. Those being; the pursuit of quality growth, maintaining low cash costs, prudent financing and fiduciary practices, establishing and 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 additional 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 well positioned to deliver sustained growth and performance for years to come.
Pershing Resources Company
200 South Virginia Street, 8th Floor
Reno, NV 89501
Source: Pershing Resources Company, Inc.
Released June 7, 2016