HMIT > maxed out o/s news > Hidalgo Mining International (HMIT) Issues Shareholder and Share Structure Update
NEW YORK, NY, Apr 15, 2009 (MARKET WIRE via COMTEX) -- Hidalgo Mining International (PINKSHEETS: HMIT) (http://www.hidalgominingint.com/), an innovative mining company headquartered in Port Washington, N.Y., announced that the Company's share structure has not changed since previously announced; the Company's total common stock issued and outstanding remains 499,789,385 and the total shares authorized are 500,000,000. Furthermore, management noted, in response to shareholder inquires, that the share structure will not change in connection with previously announced project funding arrangements. Because the arrangements are still pending, the funding company has remained undisclosed, but management specifically noted that the Project Funding Agreement is non-dilutive and will not result in the issuance of any additional shares, nor an increase in the total number of shares authorized. Further specifics will be provided in future releases, upon the execution of Definitive Agreements, which are anticipated upon receipt of the Company's new Geological Report and the Legal Opinion regarding the Ghana Property's title. Mark Daniel Klok, Hidalgo President, stated, "We are pursuing the most cost-effective and non-dilutive financing arrangement for the Project possible which will ultimately result in production yields, revenue generation, and positive shareholder value and growth." Disclaimer:
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Hidalgo Mining International to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. Hidalgo Mining International undertakes no duty to update any forward-looking statement(s) and/or to conform the statement(s) to actual results or changes in Hidalgo Mining International's expectations.
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