MMEX Resources Corp (MMEX)

[foxtrader]

They will actually have two separate subsidiaries to operate the two separate operations--one for the Distillation Unit which will be under Pecos Refining (which already exists), and a separate subsidiary they will set up to operate the large refinery. So both will be subsidiaries of MMEX--meaning MMEX will own both, just be operated by the two separate subsidiaries individually. Hope this helps.

Note the S1 filing this month, page 43:

"The Company expects to operate the Distillation Unit through its subsidiary, Pecos Refining, and to operate the Large Refinery through another subsidiary set up for such purpose."

It is under "Proposed Organizational Structure"

http://www.mmexresources.com/secfiles/mmexs1a110317.pdf ;