Quantcast
Last updated on April 24, 2014 at 1:21 EDT

Global Announces New Direction

February 6, 2009

GLEN ROCK, N.J., Feb. 6 /PRNewswire-FirstCall/ — Global Agri-Med Technologies, Inc.(“Global”) (Pink Sheets: GAGO) announced today that it will pursue a new business direction in the coal mining industry and will divest itself of its BreastAlert business due to the filing under Chapter 11 of the Bankruptcy Code by the exclusive manufacturer of BreastAlert, Scantek Medical, Inc.

To accentuate the new business direction the company will be changing its name to Lost Creek Mining Corp. in order to emphasize its connection to the mining industry. The new business will comprise the acquisition and exploitation of coal bearing properties.

Roger Fidler, President of Global stated, “We are very excited about the new business which we begin by the acquisition for convertible redeemable preferred stock (convertible into 1,000,000 common shares and redeemable at the option of the company for $500,000 during a one year period commencing on the first anniversary of issuance) of a mineral lease on an initial 125,000 ton seam located in Eastern Kentucky that is presently controlled by a Kentucky corporation partially owned and controlled by me. The property is already permitted for exploration and a preliminary permit application on this seam has been filed and we expect mining to commence around the fall of 2009.”

The property is located in Leslie County in Eastern Kentucky. The coal lease being subleased by Global is part of a lease on several seams that has been leased by the private Lost Creek Land and Mineral Company of Kentucky, the company partially owned and controlled by Mr. Fidler.

Statements in this press release which are not historical, including management’s intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to the risk factors and other information set forth in Global’s filings with the Securities and Exchange Commission and on www.pinksheets.com. Actual results could differ materially from any forward-looking statements and may vary from management’s expectations and cannot be guaranteed.

SOURCE Global Agri-Med Technologies, Inc.


Source: newswire