Mammoth Energy Group in Negotiations to Sell Chilean Subsidiary
10 April 2014 - 12:58AM
Business Wire
Mammoth Energy Group Inc. (MMTE: OTC PINK) announced today that
it expects to complete a sale of its Chilean subsidiary that has
held all of the company's lithium claims. The company is currently
negotiating a buy-out and sale of these assets and expects that
there will be a cash component to the company and a dividend
payable to shareholders of record. Terms are expected to be
announced imminently.
About Mammoth Energy Group Inc. (OTC MARKETS: MMTE)
www.mammoth-energy.comMammoth Energy Group Inc. is focused on
acquiring, and developing strategic and operational mineral
reserves in locations throughout the world. Mammoth Energy’s goal
is to become an important partner as the world’s energy paradigm
begins to change throughout the next decade and beyond.
Forward-Looking StatementsThis press release may contain certain
forward-looking statements within the meaning of Section 27A of the
Securities and Exchange Act of 1933, as amended, and Section 21E of
the Securities and Exchange Act of 1934, as amended, and such
Forward Looking Statements are intended to be covered by the safe
harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainties. All
statements other than statements of historical fact in this
announcement are forward-looking statements, including but not
limited to the viability of the company's business plans, the
effect of acquisitions on our profitability, the effectiveness,
profitability, and the marketability of the Company's products; the
Company's ability to protect its proprietary information; general
economic and business conditions; the volatility of the company's
operating results and financial condition; and other risks detailed
in the Company's filings with the Securities and Exchange
Commission.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the company and the
industry. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or to changes in its expectations, except as may
be required by law. Although the company believes that the
expectations expressed in these forward-looking statements are
reasonable, management cannot assure the public that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
Contact: Ms. Sam OnekaPhone: (917) 725 - 4171Email:
info@mammoth-energy.comWeb: www.mammoth-energy.com
Mammoth Energy Group Inc.Ms. Sam Oneka,
917-725-4171info@mammoth-energy.com