HONG KONG, China, via ETELIGIS INC., 03/12/2015 – – Borneo Resource Investments Ltd. (OTCQB: BRNE) (“The Company”) today announced that it has entered a preliminary agreement, under which it will be pursuing a dual listing of the Company’s stock on the GEM Board of the Hong Kong Stock Exchange.
Under the preliminary agreement, the Company’s Hong Kong based financial advisor, Yuan Asset Management, a registered financial advisor pursuant to the Hong Kong Securities & Futures Commission, has proposed a public offering in Hong Kong, of shares of Borneo Resource Investments Ltd. or one of its subsidiaries involved in its Indonesian gold operations. The preliminary agreement provides that the financial advisor will arrange for the services of a suitable sponsor for the Hong Kong offering as well as underwriter(s) for the offering.
In announcing the proposed restructuring, CEO Nils Ollquist commented: “In recent months, management has been intensely focused on both fine tuning our operational structure and developing additional processing capacity at our recently acquired site in Ratatotok. Our first large capacity (10,000 ton) pad will be operational in March and construction of a 2nd pad will be underway by the end of the month. Now that our enhanced operations will be contributing additional revenues, we are committed to maximizing benefits to our shareholders from these efforts.”
CEO Nils Ollquist continued “We believe that tapping into the inherent demand in China for resource investments, particularly precious metals, is a logical way to both secure additional growth financing and create an enhanced value platform for our shareholders. The preliminary agreement we have just entered effectively clears the path to a dual listing for our shares to take advantage of opportunities in both the US and Asian markets.”
About Borneo Resource Investments Ltd.:
Borneo Resource Investments Ltd. (OTCQB:BRNE) is a mining company that mines gold and develops producing gold mines as well as coal mining properties in the Republic of Indonesia. Borneo’s current assets include three gold properties, two of which are producing gold. Cash flow-producing investments in gold properties help fund Borneo’s operations and investments in gold, while the Company develops high value, longer-term investments in thermal “coal concessions,” which are properties that can be mined for coal.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Words such as "believe", "estimate", "will be", "will", "would", "expect", "anticipate", "plan", "project", "intend", "could", "should" or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance, and we do not undertake to update our forward-looking statements.
For example, we are using forward looking statements when we discuss the indications that estimate the potential revenue that may be generated from this property. These forward-looking statements are based on the current expectations of the management of Borneo Resource Investments Ltd. only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in the price of natural resources, a change in the estimate of natural resources on our concessions, a change in the ability to extract the natural resources, changes in Indonesian law, risks associated with counterparty default in any of our agreements and the ability to acquire funding. Except as otherwise required by law, Borneo Resource Investments Ltd. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Borneo Resource Investments Ltd.
SOURCE: Borneo Resource Investments Ltd.