SOURCE: NYMET Holdings Inc.

May 04, 2009 15:11 ET

NYMET Holdings Inc. (NYMH) Announces Final Step Initiated in Reorganization Plan

NEW YORK, NY--(Marketwire - May 4, 2009) - NYMET Holdings Inc. (PINKSHEETS: NYMH), an innovative metals and mining holding company headquartered in Port Jefferson Station, N.Y., today announced that its board of directors has approved a 10-for-1 reverse stock split of the Company's Preferred Series C shares. The reverse split is the final step of the Company's reorganization plan and is effective 20 days as of the date of this announcement.

Upon completion of the reverse split the Company will effectively have 630,348 Preferred Series C shares outstanding.

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 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. expectations.

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