Gold Mining USA Adopts Plan for Enhanced Reporting
30 June 2014 - 11:00PM
Gold Mining USA, Inc. ("Gold Mining USA" or the
"Company") (OTC:GMUI) today announced management's plans
to conduct and then publish additional due diligence on the
business, assets (resources and reserves), legal, tax, actual and
contingent liabilities, operations, and condition of the Company,
which includes in its scope, the Company's expectation of making
available higher-quality financial reporting.
The Company is currently in ongoing discussions with third-party
investors, risk-transfer consultants, investment bankers, and
potential investees concerning the Company's prospects for the
future, its access to capital, the appetite of insurance markets to
accept and manage risk from the Company, the availability of future
business opportunities to the Company and advisable capital
restructuring possibilities. This plan was adopted by management
today in light of its recent acquisition of additional assets and
underscores the Company's commitment to attempt to reduce
acquisition risk, enhance its standard of reporting, and
appropriately manage investor expectations. In addition to
reporting consultants, an independent auditing firm registered with
the Public Company Accounting Oversight Board will be engaged
within the next week to publish its report to the Board of
Directors of the Company. The audit planning is for this
independent report to be made available and filed with OTC Markets
Group not later than August 14, 2014. The Company approved within
this plan management's intent to, at the time of publication, make
any and all recommended or required revisions to Gold Mining USA's
financial statements.
About Gold Mining USA
Gold Mining USA, Inc., an exploration stage company, focused on
the exploration and development of metallurgical and mining
projects in the United States. The company's silver and gold mining
assets are concentrated in the State of Nevada. Gold Mining USA,
Inc., formerly Standard Oil Company USA Inc., was founded 1995 and
is headquartered in Sacramento, California.
Safe Harbor Statement
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by the use of words such as "anticipate,"
"believe," "expect," "future," "may," "will," "would," "should,"
"plan," "projected," "intend," and similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of Gold Mining USA to be materially
different from those expressed or implied by such forward-looking
statements. Gold Mining USA's future operating results are
dependent upon many factors, including but not limited to the
Company's ability to: (i) obtain sufficient capital or a strategic
business arrangement to fund its future plans; (ii) acquire and
retain adequate management to operate the Company; (iii)
competitive factors and developments beyond the Company's control;
and (iv) other risk factors.
CONTACT: 209-386-7753
info@gmuiinc.com
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