SOURCE: Precious Metals Exchange Corp.

May 09, 2011 09:00 ET

Precious Metals Exchange Corp. Signs Letter of Intent to Purchase Caritas Ranch Barbecue and Expand Operations

DALLAS, TX--(Marketwire - May 9, 2011) - Precious Metals Exchange Corp. (PINKSHEETS: PRMX) today announced it has signed and executed a Letter of Intent to purchase Caritas Ranch Barbecue of Boerne, Texas. Caritas Ranch Barbecue has been a nationwide supplier of beef and associated food products for over 15 years. Caritas distributes through retail outlets including Sam's Club and Costco, HEB food stores and Six Flags Amusement Parks.

Mark Ussery, Vice-President of PRMX, said, "We are pleased to be in a position to enter the food industry with this acquisition, and now have the facility and vehicle to expand the business and grow with the market. We will be selecting a new management team to assist the existing employees and will appoint a seasoned group of professionals to our Board to assist in expansion as well as marketing our products via internet and direct sales."

Caritas has been in business since 1996 and has recently expanded its USDA approved, 10,000 square foot facility to accommodate its growing orders. The property is on 5 acres and has the size to expand and grow with the business. The state of the art facility now houses eight large commercial cookers, refrigeration and deep freezers as well as packaging automation needed.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). 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:
    Jack Eversull
    The Eversull Group, Inc.
    214-469-2361 fax
    Email Contact