SOURCE: NYMET Holdings Inc.

August 20, 2009 08:19 ET

NYMET Holdings Inc. (OTC: NYMH) Announces the Completion of Funding for the Demolition and Processing of the C.A. Reed Sawmill

NEW YORK, NY--(Marketwire - August 20, 2009) - NYMET Holdings Inc. (PINKSHEETS: NYMH), an innovative metals and mining company headquartered in Port Jefferson N.Y., is pleased to announce the completion of a funding agreement which will commence the demolition and processing of the Long Leeds Lumber Company facility located near the Arkansas border. The facility was purchased by NYMET for its exclusive recovery rights to the ferrous and non ferrous metals.

NYMET has subcontracted a large demolition and recovery company located in Texas to begin recovering approximately 7,000 to 8,000 tons of ferrous metals on site. The company has over 20 years experience in the demolition and recovery sector. Demolition and processing is set to begin immediately and expected to last 2 to 3 months prior to material being sold.

The ferrous and non-ferrous metal sales are anticipated to generate revenues of approximately $2,000,000 over the next 90 days. This represents one of many major projects NYMET's management currently has planned for the near term.


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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