Mindpix Corp. Provides Current Financing Progress

Nov 03, 2011, 15:10 ET from Mindpix Corp.

ORLANDO, Fla., Nov. 3, 2011/PRNewswire/ -- Mindpix Corp. (Pink: MPIX) CEO, Roxanna Weber, is pleased  to announce that Gilman Metals Co., LLC has the confirmed issuance of their 150,000,000.00EUR (One Hundred Fifty Million Euros) cash backed Standby Letter Of Credit (SBLC). The SBLC was issued on 11/2/11 and matures 1yr. and 1mo. from the date of issuance. In addition to the issued SBLC, this top 50 Bank has also sent confirmation to their existing customer of their readiness to receive and monetize the SBLC. Funds shall be available for transfer within 5 banking days of the confirmed MT760 swift transfer of the SBLC by the receiving bank. This existing relationship with this top 50 Bank comes by way of Inter Global Investments, LLC.

Roxanna Weber, CEO of MPIX stated, " Without these existing banking relationships by way of Inter Global Investments, LLC. it would have been extremely difficult and impossible to access liquidity in today's economic climate. This newly shared leveraging of assets and bank credit facilities between multiple parties has proven to be a successful strategy by way of unconventional methods. We look forward to unparalleled success and advancements in our future transactions. Although we are a few days behind our initial schedule, we are pleased that this has come to fruition."

Recently Mindpix Corp. (Pink: MPIX) announced the following:

On Oct. 31, 2011 Mindpix released an update regarding the funding arrangements for Gilman Metals Co. LLC. Mindpix had announced that it had arranged for $500 million of Funding for Gilman Metals. Gilman Metal's is pleased to announce the confirmation of it's first to be issued Stand by Letter of Credit (SBLC) in the amount of 150,000,000.00EUR (One Hundred Fifty Million Euros). This SBLC shall be secured by Gilman's precious metals assets; that far exceed the face amount of the instrument. The issuance of the SBLC will take place no later than the 1st November 2011. The SBLC shall be delivered by Swift MT760 and will be monetized by a top 50 bank. Gilman's lenders, Inter Global Investments, LLC., anticipates all committed funding of $500 Million previously announced to be completed within 45 days of this initial transaction.

On October 27, 2011 Mindpix Corp. (Pink: MPIX) announced it had signed an agreement to acquire 25% interest in Gilman Metals Corp in exchange for 100,000,000 shares of 144 common stock in Mindpix Corp (MPIX). Gilman Metals Corp owns Certified high grade mineral concentrates containing precious metals including gold, silver, platinum, palladium, rhodium, osmium, iridium and ruthenium, worth in excess of $1,200,000,000. Mindpix will own a twenty five percent of all income and assets held by the emerging new technology and mineral company.

About Gilman Metals Company, LLC

Gilman Metals Company, LLC (GMC), a Colorado Limited Liability Company, was formed on June 1st, 2005 for the main purpose of managing, acquiring and refining concentrated metals to extract precious metals via a process using a new plasma arc technology. This new endeavor captures and separates highly valued precious metals from hazardous trash while cleaning it up at no cost to the tax payer and creating substantial wealth and income in the US. This innovation has proven successful in its "closed-loop technology" which creates energy while cleaning up Super Fund type projects on the global stage.

About Mindpix Corp.

Mindpix Corp. (MPIX), www.mindpix.com, is a holding company that invests in multi-media entertainment, internet, networks, communications and new emerging technology companies.  Mindpix Corp. has recently updated their disclosure and financial information at OTCMarkets. All files can be found at www.otcmarkets.com/stock/MPIX/financials

This press release contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward looking statements involve risks and uncertainties, including, without limitation, the future press releases of MPIX.

Contact for Mindpix info@mindpix.com.
Mindpix Corp at 850-638-3920
407-434-1743

SOURCE Mindpix Corp.



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