Standard Metals Processing, Inc. Forms Wholly Owned Subsidiary for Concentrate Acquisition

Jan 09, 2014, 10:40 ET from Standard Metals Processing, Inc.

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.

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SOURCE Standard Metals Processing, Inc.