Standard Metals Processing, Inc. Forms Wholly Owned Subsidiary for Concentrate Acquisition
TONOPAH, Nev., Jan. 9, 2014 /PRNewswire/ -- Standard Metals Processing, Inc. (OTCQB:SMPR) today announced that it has formed a subsidiary through which it will acquire ore and ore concentrate that can be processed into finished metal. Standard Metals Acquisitions, Inc., the new wholly owned subsidiary, will supply Standard Metals Processing, Inc., with the ore and ore concentrate product it acquires.
Sharon Ullman, Chairwomen and Chief Executive Officer of Standard Metals Processing, Inc. commented, "The creation of this new wholly owned subsidiary provides a direct supply chain and enables the company to focus on processing ore and ore concentrates. This new structure refines and focuses the activities and operations of our company, something we believe both strategic and in the best interests of our shareholders."
About Standard Metals Processing, Inc.
Standard Metals Processing, Inc. is a developing, Nevada-based, custom toll milling and processing company that facilitates the extraction of precious, strategic, industrial and rare earth minerals from mined material.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Standard Metals Processing, Inc.