STAD GOLD : Standard Gold Provides Updates
06/27/2012| 12:10pm US/Eastern
Standard Gold, Inc. (OTCBB:SDGR) (the "Company") entered into that
certain forbearance arrangement with Pure Path Capital Management
Company LLC, dated December 21, 2011, (the "Forbearance") pursuant to
which Pure Path acquired a note and certain loan documents related to
our property located in Tonopah, Nevada. The Company and Pure Path have
worked out a cooperative agreement, whereby the February 10, 2012 date
required pursuant to the terms of the Forbearance has been extended
until July 8, 2012, without further consideration. This extension will
allow both parties to concentrate on completing financing.
Additionally, the Company's Board of Directors have entered into
negotiations with Michael Markiewicz, to join the Board, effective July
2, 2012. Mr. Markiewicz is the Chief Financial Officer of Pure Path. Mr.
Markiewicz has over 30 years of experience in public accounting and
wealth management. He is a certified public accountant, personal
financial specialist and certified financial planner. He has had a long
career of public accounting and wealth management, serving with the
Boston Company; Marks, Paneth and Shron; DeLoitte and Touche; CBIZ MHM
Family Office Services and currently is a partner with Fogel Neale. He
will serve on the audit and compensation committees.
Sharon Ullman, Interim CEO stated, "I look forward to working with Mr.
Markiewicz on the Board and in the recapitalization of the Company.
Furthermore, his qualifications will be instrumental for the future of
the Company. We look forward to working with Pure Path to enhance the
value of the Company."
Mr. Markiewicz stated, "I look forward to working with Sharon, the Board
and the management of the Company as we move forward on the
implementation of the business plan of Company."
About Pure Path Capital Management Company LLC
Path is a private investment group that was established in 2011 and is
headquartered in Las Vegas, Nevada. Pure Path identifies investment
opportunities that offer potential high yields from risk based and
start-up business ventures.
About Standard Gold, Inc.
result of an acquisition completed in March 2011, Standard Gold's
primary focus is to provide toll milling and other custom milling and
refining services for the extraction of precious minerals. Standard
Gold's assets include one of the largest private land holdings in
Esmeralda County, NV, one of the largest tailings holdings, ore dumps
and substantial water rights. Our common stock trades on the OTCBB under
the symbol "SDGR" and our website is www.standardgoldmilling.com.
Forward-Looking Statements and Risk Factors
statements included in this press release may constitute forward-looking
statements that involve risks and uncertainties that could cause actual
results to differ materially. Such statements are valid only as of
today, and we disclaim any obligation to update this information. These
statements are subject to known and unknown risks and uncertainties that
may cause actual results to differ materially from the statements made.
These statements are based on our current beliefs and expectations as to
such outcomes. These risks and uncertainties relate to Standard Gold and
its affiliates, and include, among others, the ability to manage and
operate the assets recently acquired in connection with toll milling;
the ability to obtain or maintain regulatory approvals; the ability to
obtain necessary financing and other risks and uncertainties.
In addition, the business of toll milling is a relatively new business
for our management and involves significant financial risks. Our
operations will rely largely on mineral material produced by others, but
we have no control over their operations and we cannot make any
estimates regarding probable recoveries of these minerals. The tonnage
and grade of the tailings that we propose to process have not been fully
verified. Our costs and ability to successfully operate have not been
fully verified because of our entrance into our new business model and
we may incur unexpected costs or delays in connection with starting
operations. The cost of designing and building our operations and of
finding new toll milling sources can be extensive and will require us to
obtain additional financing and there is no assurance that we will have
the resources necessary or the financing available to attain operations.
Some of our proposed operations will require permits, which could incur
additional cost and may delay startup. The risks we face are numerous
and detailed information regarding these risks may be found in filings
made by us with the Securities and Exchange Commission, including our
most recent annual report.
Standard Gold, Inc.
Sharon Ullman, 612-349-5277
© Business Wire 2012