I'll add a few more shares down here...one more pr she'll pop again IMO.
VERNON, BC--(Marketwire - 08/03/10) - Grand Pacaraima Gold Corporation (Pinksheets:GPGD - News) announced today that the board of directors approved the merger with PT Jasmine EKA Karya, Inc (US based subsidiary of PT Jasmine EKA Karya) (Indonesia). B & E Resources, Ltd Board of Directors is preparing for this merger also. The implementation of the merger is subject to obtaining shareholder approval as well as making the appropriate filings with FINRA. To facilitate this merger, ownership interests in certain assets are being released. Specifically, Grand Pacaraima Gold Corp. will be exchanging the four gold mines in Venezuela plus its interests in oil and gas properties for shares of Nadir Energy and Mining Corp so that the current shareholders of GPGD will receive shares of Nadir Energy as a dividend. The Board commented on the resolution, "We are entering a new phase expanding our opportunities in this merger while management is taking this action to simplify the merger process, pay a stock dividend of our parent company, and enhance the future potential of GPGD. Management believes that such mergers, acquisitions and stock dividends when carefully developed, provide value added services and contracting capabilities, which will increase shareholder value."
GPGD Board of Directors commented, "This transaction should be a positive move for GPGD's existing shareholders. Our commitment is to provide increased shareholder value on a continuing basis through the continued acquisition of new assets, expansion and development of our existing holdings."
The above transaction is subject to the drafting and negotiation of a final definitive agreement, performing due diligence as well as shareholder's approval of the Company. As such, there is no guarantee that the Company will be able to successfully close the above transaction.
About PT Jasmine EKA Karya Slamet Riyanto heads up the Jasmine operations as its Chief Executive Officer (CEO). Jasmine is a commodity trading company dealing in the petroleum industry. They are also a general contractor in residential and commercial building in the Yogykarta area on the Island of Java, Indonesia. The Company has set up its US operations through fully owned subsidiary, PT Jasmine EKA Karya, Inc.
About B & E Resources, Ltd. www.berltd.com B & E Resources, Ltd is a General contractor with a diversified portfolio of business services, including ASME coded shop fabrication, refining / petrochemical, Marine drilling rig construction, field implementation, municipal and civil engineering and pipeline construction.
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