SOURCE: NYMET Holdings Inc.

NYMET Holdings Inc.

August 06, 2009 17:53 ET

NYMET Holdings Inc. (NYMH) Announces Successfully Completed Shipments and Sale of 211 Auto Shred Scrap Metal to Pakistan

NEW YORK, NY--(Marketwire - August 6, 2009) - NYMET Holdings Inc. (PINKSHEETS: NYMH), an innovative metals and mining company headquartered in Port Jefferson, N.Y., announces the completion of sale and shipments of 211 Auto Shred Scrap Metal to Pakistan.

NYMET has successfully completed shipments of 211 Auto Shred Scrap Metal to Pakistan. The first shipment of 36 ocean containers successfully shipped on April 14, 2009 on Orient Overseas Container Line. The second shipment, of 13 containers, departed on April 21, 2009. Both shipments departed from Port Elizabeth, New Jersey. The transaction was secured by an irrevocable documentary letter of credit issue by Diamond Metal Steel to JP Morgan Chase. The total sale of this transaction was approximately $275,000 USD. Documents were presented and payment was received from Diamond Metals. This marks the first shipment of hopefully many to the Pakistani Steel Markets. Currently Pakistan is one of the stronger overseas markets for scrap metal.


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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