SOURCE: Luminart


April 16, 2013 07:30 ET

Luminart Corp. [LUMP] Acquires the North Dakota Operations of Monson Excavation Corporation

STANLEY, ND--(Marketwired - Apr 16, 2013) - Luminart Corp. (PINKSHEETS: LUMP) in its stated objective of acquiring companies that can be folded in, or complementary to its existing subsidiary companies has acquired the North Dakota operations of Monson Excavation; a 40 year old company operating out of Wilmar, Minnesota. Chad Monson, the CEO of Monson Corp., will continue on as Vice President - Mining Operations for Luminart.

"Being a part of such an outstanding organization is an opportunity I couldn't let pass," said CEO of Monson Corp. Chad Monson. "The timing of this relationship couldn't be better as I see Luminart becoming a well-known premier provider of infrastructure services for all of the major oil companies in North Dakota in the very near future."

Luminart's end of year 2012 earnings reflects the merged company financials. A new subsidiary has been formed (Westby Rock & Gravel LLC) to incorporate the Monson transaction. This transaction is expected to add 7 to 9 million dollars of top line revenue (based on past years performance) to Luminart considering the current customer base and Master Service Agreements in place. Monson ND will be an operating division of Westby Rock & Gravel. The transaction will greatly increase the equipment capabilities of Luminart and its subsidiary operations. 2.5 million dollars-worth of heavy equipment has been acquired; along with a mine that has an estimated in ground reserve of 6 to 8 million tons of rock. In addition, Luminart has obtained a lease for 209 acres of proven mining reserves and acquired 3 acres of land which contain both a permanent truck and equipment repair shop, and a permanent housing unit.

Burke Bentley, President of Luminart Corp., stated, "We have effectively doubled the size of Luminart with this one acquisition. We are excited to add the depth of experience and solid reputation of Chad Monson to our seasoned group of leadership and consider this a significant step toward taking our company to the next level."

W. Michael Reynolds, CEO of Luminart Corp., pointed out, "This acquisition is a part of our movement to become the dominant player in the Aggregate industry of North Dakota."

About Luminart Corp. and Its Subsidiaries:

Luminart Corp.'s subsidiaries: B3 Well Services, White Star Sand & Gravel, Black & Blue Water, OutWest Field Services and Westby Rock & Gravel LLC are focused on the expansion of contract hauling materials for infrastructure development in North Dakota, mining and processing materials for road building, providing storage and hauling of pipe, supplying crane operations and qualified riggers, transporting of miscellaneous heavy equipment, well drilling and expansion of the base camps in the North Dakota operations, sales and marketing.

Led by a skilled and experienced management team, the timely entrance to this unique opportunity in the Bakken oil reserves has positioned the company to create more value for its shareholders and secure a strategic position for increased market share in the future.

Forward-Looking Statements

This press release may contain forward-looking statements, including, but not limited to, statements regarding Luminart Corp. and their plans, products and related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential" or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Luminart Corp.'s filings with the Pink Sheets, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Luminart Corp. undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.

Contact Information

  • For more information contact:
    Investor Relations
    William A. Broad
    Phone: (801)458-4692
    Email: Email Contact