SOURCE: NYMET Holdings Inc

NYMET Holdings Inc

November 03, 2009 08:08 ET

NYMET Holdings Inc. (NYMH) Announces the 2nd Week of Successful Shipments From Puerto Rico to Hong Kong

NEW YORK, NY--(Marketwire - November 3, 2009) - NYMET Holdings Inc. (PINKSHEETS: NYMH), an innovative metals and mining company headquartered in Port Jefferson, N.Y., announces the successful completion of first 2 shipments of approximately 250 metric tons of scrap steel to suppliers based in Hong Kong.

As per the Purchase Contract with Hong Kong based scrap steel dealer Coppola Asia Limited, NYMET has successfully shipped the first 2 consignments of HMS 1 and 2 heavy melting scrap steel material. NYMET, through its relationships with Puerto Rico based Anza Capital Partners and its affiliated scrap yards, has successfully procured 2,000 to 4,000 metric tons per month of HMS for shipment to Coppola Asia Limited. NYMET anticipates the completion of the first 1,000 metric tons of scrap metal to be completed before the end of the month. Suppliers to NYMET have acknowledged that shipments are on schedule as per their agreed specifications and deliveries are expected without delays. At time of press, NYMET is expecting a second and third Purchase Contract for steel mills in Korea and Vietnam and is ready to add them to NYMET's schedule for October through November shipments.


The results described herein cannot be guaranteed. 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. These expectations and assumptions are subject to risks and uncertainty, which could affect NYMET Holdings Inc.'s future. 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 NYMET Holdings Inc. 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. NYMET Holdings Inc. undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in NYMET Holdings Inc.'s expectations.

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