FMNJ NEWS!
Franklin Receives a $32 Million FundingFont size: A | A | A8:49 AM ET 2/9/10 | Marketwire
Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman, CEO and President William Petty is pleased to announce that after many months of negotiation and an exhaustive due diligence process, he has secured an agreement providing the company with a $32 million funding.
"When I was appointed CEO and President in September 2007, Franklin was a company with limited opportunities, no well-defined projects. Today, Franklin is a well-respected company with two exceptionally viable mining opportunities in Bolivia," said CEO William Petty. "With funds that are now available, I can see that Franklin will soon bring an unprecedented level of economic development to both of our current projects. I can see that Franklin now has the opportunity to rapidly implement a focused plan for expanding both our Escala joint-venture and our Turiri operating agreement."
Additional information detailing plans for implementing and expanding our Bolivian mining presence will be released in coming weeks. "There are a few remaining items to be finalized before I am able to release full details for our new funding," Mr. Petty continued. "But I can announce that it may be necessary to again increase outstanding common shares to accommodate these funds. I do not yet know how much and under what terms, but will report those details as soon as possible."
About Franklin Mining, Inc: Franklin Mining, Inc. has mining interests in the United States and Bolivia. Additional information is available at www.FranklinMining.com.
DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.'s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining, Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.
For additional information, please visit our website (www.FranklinMining.com) or contact our Investor Relations firm, A S Austin Company, 210-204-5068 or FMNJ@asaustinco.com.
Contact:
Investor Relations
A S Austin Company
210-204-5068
FMNJ@asaustinco.com
SOURCE: Franklin Mining, Inc.
mailto:FMNJ@asaustinco.com
2010 settled
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