Royal Acquisitions and Development, Inc. Announces Multi-Million Dollar Purchase
Posted on: Tuesday, 21 August 2007, 15:14 CDT
Royal Acquisitions and Development, Inc., (PINK SHEETS: RQST), announces today the purchase of more than 56,000 acres of undeveloped land in the gold prosperous region of Mulatos, MX. The purchase was consummated through Dorado Property Holdings of Tampa, FL for two year restricted shares of the company's stock.
The most recent appraisal values the land at more than USD18,000,000.00. The company will be conducting its own appraisal through an independent auditor in the coming months. "We truly believe that we have hit a home run with the purchase of this first property and look forward to several more acquisitions in the coming months," states Richard A. Cartagena, company CEO. Along with the purchase of the land, the company also receives the road and water rights. This initial purchase is situated amongst several large mining groups including Alamose Gold. The company plans to start its initial mining operations before the end of the year.
RQST, Inc. and its wholly owned subsidiaries are engaged in the acquisition of land, exploration, development and extraction of precious metals. In addition, the company is currently in the process of appraising and acquiring additional properties in Mexico, as well as Nevada, Utah and Arizona.
About Royal Acquisitions and Development, Inc. The company specializes in the development of mining, real estate and other equitable acquisitions. The company currently has 4,813,680 shares issued and outstanding.
"Safe harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as TI or its management "believes,""expects,""anticipates,""foresees,""forecasts,""estimates," or other words or phrases of similar import. Similarly, statements in this release that describe our business strategy, outlook, objectives, plans, intentions or goals are also forward looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
Source: Business Wire
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