SOURCE: Turkpower

August 26, 2011 09:00 ET

TurkPower Corporation Retains New York Based Financial Advisory Firm EAS ADVISORS LLC

NEW YORK, NY--(Marketwire - Aug 26, 2011) - TurkPower Corporation (OTCBB: TRKP) (the "Company") is pleased to announce it has retained EAS Advisors LLC ("EAS"), a company located at 785 Fifth Avenue, New York, NY, in the United States of America.

EAS, a financial advisory firm in the commodity and mining space, will provide a variety of equity capital market services including assisting the Company with arranging and structuring financing to complete its purchase of 50.1% of the operational Kuluncak iron ore mine in Turkey. EAS will also assist the Company in developing its mining industry presence through its vast network, research coverage, company publications, presentations and general corporate issues including future capital raising and debt financing.

Edward Sugar, Principal of EAS Advisors, stated: "We are very pleased to be working with TurkPower and what we believe is a great asset in the Kuluncak iron ore property. This project has been incredibly well documented by its previous owner, and while not considered a "world class" sized project, it is operational, highly profitable and a great mine for a junior mining company like TurkPower. We look forward to working with TurkPower and its management team on a long-term basis and believe the Company is in an excellent position to capitalize on the enormous opportunities in the undeveloped and highly fragmented Turkish mining industry."

About TurkPower Corporation
TurkPower Corporation (OTCBB: TRKP) is a Turkish-American junior mining company that is buying controlling ownership in an operational iron ore mine and several mining projects under development. TurkPower's sole focus is on the booming Turkish mining industry, where it aims to become a leader in developing, operating and owning base metal mines, by acquiring and consolidating operational mines with proven reserves, utilizing economies of scale to increase returns as well as developing new mining assets. TurkPower's board of directors, management team and employees have extensive expertise and established relations in the Turkish mining industry as well as relations with the relevant government agencies, allowing TurkPower to access key opportunities now emerging in Turkey.

About Turkey

  • 73m inhabitants
  • 17th-largest economy in the world
  • 2nd-fastest growing economy in the world
  • Member of NATO, OECD, OSCE and G-20
  • Classified as a democratic, secular and developed nation by the CIA

Turkey is an important player in the international minerals market due to its wealth of reserves, considerable production capacity and geographical advantages for transportation and shipping. Ranking 28th in global mining production, Turkey also ranks 10th by variety of mines and minerals.

Turkey has the second-fastest growing economy in the world, the fourth-largest shipbuilding industry, the tenth-largest steel-producing facilities, leading electronics manufacturing for Eastern Europe and the Middle East, and has recently surpassed Italy in terms of automobile production.

Safe Harbor Statement

The statements by our officers, and other statements regarding optimism related to the business, consulting, service operations, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business and subject to successful financing. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere.

Contact Information

  • TurkPower Corporation
    100 Park Avenue
    New York, New York 10017
    T 212-984-0628
    F 212-880-6499