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Press Release Source: International Minerals Mining Group, Inc.
International Minerals Mining Group, Inc. - Announces OTC
K Listing Symbol IMMN
Monday June 25, 9:45 am ET
HOUSTON, TX--(MARKET WIRE)--Jun 25, 2007 -- International Minerals Mining Group, Inc. is listed on the Pink Sheets OTC securities and will be trading under the symbol of (Other OTC:IMMN.PK - News).
The Company's management is shared with its affiliate sister company, Cotton & Western Mining, Inc. (Other OTC:CWRN.PK - News). Robert L. Cotton Jr. is the President and Chief Executive Officer of both companies.
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International Minerals Mining Group, Inc. was a concept company for mandate of Magnetite Iron Mineral Reclamation Projects; as such, the company signed a Joint Venture Agreement with Quantum International of Houston, Texas simultaneous and un-announced with the previous publicly announced signing of a Joint Venture between Cotton & Western Mining, Inc. and Quantum International. Failing to secure the mineral recovery rights to the Mount Mayon, (Philippines) discharge of Magnetite Lava/sands, management in consultation with Quantum International decided to change the company's intended mandate, and pursue other iron mineral exploration and development projects outside the area of operations of Cotton & Western Mining, Inc.
Over the past two months International Minerals Mining Group, Inc. has been actively conducting exploration and geological investigations of several iron mineral deposits; the company has found two such projects that meet certain mandated criteria for export development and one iron mineral deposit for domestic development.
At the request of Quantum International, three junior iron mineral mining operations will be opened to meet the iron ore export needs of Quantum International. Production schedules are designed to meet the available loading and shipping capacity of the ports within the area of operations; therefore, three mining operations were needed in lieu of one large mining operation. CWRN will continue with its Philippines undertaking and IMMN will develop mining operations in other locations. Quantum International has agreed to fund the development projects and off-take all finished products under the terms and conditions of the Joint Ventures.
"CWRN and IMMN are separate corporations," stated Mr. Cotton. "Our loyal shareholders will be rewarded by our plans to dividend a yet to be determined ratio of percentage of ownership, paid in shares of IMMN to the CWRN shareholders of record. The dividend amount will be calculated after the effective date of the CWRN reverse split, analysis of its shareholder base and sufficient time has been allowed to let the Cotton & Western equity stabilize."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Contact:
Contact:
Robert L. Cotton
International Minerals Mining Group, Inc.
info@mineralsmininginc.com
http://www.mineralsmininginc.com
(281) 820-7815
Cotton & Western Mining, Inc.
info@cottonwestern.com
http://www.cottonwestern.com
(281) 232-8410
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Source: International Minerals Mining Group, Inc.
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