SOURCE: NYMET Holdings Inc.

May 05, 2009 08:01 ET

NYMET Holdings Inc. (NYMH) Announces Spin-Off of FCC Licensed Broadcast Stations

NEW YORK, NY--(Marketwire - May 5, 2009) - NYMET Holdings Inc. (http://www.nymetholdings.com/) (PINKSHEETS: NYMH), an innovative metals and mining holding company headquartered in Port Jefferson Station, N.Y., today announced that FCC licensed broadcast stations WCMA-AM in Daleville, Alabama, and WTKN-AM in Corinth, MS, will be sold and/or transferred as a part of the agreement to take over and transition new management and the direction of the Company.

Additionally, the Company has been notified by its transfer agent that the reverse split of its Series C Preferred stock, previously mentioned in the Company's last press release on May 4th, 2009, is effective immediately due to the tacking period of the original board resolution provided.

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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