SOURCE: Precious Metals Exchange Corp.

September 21, 2009 09:30 ET

Precious Metals Exchange Corp. Hires Former General Mills® and Tonka/Hasbro® Corporation Senior Operations Executive

PRMX Prepares for National Expansion of the CashOutMyGold.com Brand

ADDISON, TX--(Marketwire - September 21, 2009) - Precious Metals Exchange Corp. (PINKSHEETS: PRMX) announced today the Company has hired Jacob Miles as a consultant to focus on strategy and marketing. Mr. Miles has also been nominated to the Company's Board of Directors. Mr. Miles is a former senior executive of both the General Mills® Corporation and Tonka/Hasbro® Corporation. He also previously served as a Divisional Director of General Mills® and The United Way Foundation.

Garrett Vogel, President and Director of Precious Metals Exchange Corp., stated, "We look forward to having Jacob on our team. Not only has he served as a Senior Level Executive with two Fortune 500 companies, but has served as CEO and Chairman of Urban Television Network Corporation. His experience will be valuable as the Company moves forward on its strategies and plans to roll out a national internet and television campaign advertising for our products and services. Jacob brings significant experience in working with celebrities and social media and currently serves as a Senior Social Media Analyst with the Social Media Analyst™ unit of GrapevineStar™ Entertainment Inc. He has been directly involved in the development, marketing and branding of such familiar products as Star Wars®, SEGA® Game Systems, Tonka® Trucks, Strawberry Shortcake® and Batman® to mention a few. In his new position, Jacob will be responsible for executing a successful Go-To-Market strategy and branding of the CashOutMyGold direct response national internet and television marketing campaigns."

Mr. Miles remarked, "We are in an exciting new era in the precious metals recycling sector. Recycling old gold from jewelry and other items that contain the precious metal is a literal gold mine estimated at $4 Billion annually in the U.S. alone. The 'Cash for Gold' by mail-in business model has already proven itself as a viable means of generating substantial revenues with use of direct response television marketing along with the internet, which has opened up a global market that has accepted this method and business model for selling gold as credible. The largest competitor in this market space has already proven that the mail-in business model can generate revenues of several hundred million annually for a single company. We believe that CashOutMyGold.com can become not only a serious competitor but a leader in the space. Demand for gold is out performing traditional gold mining by 59% at present; recycling gold from old and broken jewelry will become the new standard for mining gold and PRMX is at the forefront of this trend."

Mr. Mark Ussery, Vice President and Director of Precious Metals Exchange Corp., added, "Jacob's experience in product development, marketing and branding, along with his extensive understanding of television media, will prove to be extremely valuable. His knowledge will assist in media buying, station placements, search engine optimization and viral marketing and prove to be profitable for the Company and its shareholders. We believe CashoutMyGold.com will not only be a major competitor in this market space but a force."

Precious Metals Exchange Corp. operates in the precious metals refining and recycling sector of the precious metals industry. The Company provides a convenient, secure and efficient method for customers to sell items containing precious metals. Targeted direct marketing is used to identify potential customers, and a highly automated fulfillment process to ensure their satisfaction through high payouts and quick service. The Company recycles customers' broken or unwanted jewelry and other items for gold, platinum and silver content, avoiding the risks and environmental costs of mining. For more corporate information, please visit www.preciousmetalsexchangecorp.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including the fourth quarter revenue and future growth. Additionally, words such as "seek," intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies and the impact of competition. Precious Metals Exchange Corp. does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contact Information

  • Investor Relations Contact:
    The Eversull Group, Inc.
    Jack Eversull
    972-378-7917
    972-378-7981 (fax)
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