LAS VEGAS, Oct. 23, 2013 (GLOBE NEWSWIRE) -- U.S. Rare Earth Minerals, Inc.'s (OTCQB:USMN) President and CEO, Dennis Cullison, announced today that he has confirmed contracts for immediate delivery of EXCELERITE® products amounting to over $2,000,000 USD and an ongoing revenue stream starting by the end of this week.
CEO Cullison stated, "This is the beginning of ongoing revenue for USMN for years to come. The contracts referenced have been in place for several weeks but I needed confirmation of the funds to be delivered before making any announcement. This was one of the reasons for my extended stay in Vietnam. We also have, in hand, additional large contracts and will announce them as validation of USD funds occurs." He further said, "Tomorrow we travel to Ha Long Bay in Quang Ninh province where we expect to obtain larger orders."
U.S. Rare Earth Minerals, Inc.
U.S. Rare Earth Minerals, Inc. (USMN), is engaged in the sales and distribution of products derived from the Company's mining activities in Nevada relating to certain natural mineral deposits and other natural rare earth minerals. Products of USMN consist of natural minerals for animal consumption as well as agricultural products sold under the brand name EXCELERITE®. Customers of USMN include some of the world's most widely recognized companies that have well known consumer brands. USMN is headquartered in Las Vegas, Nevada. The company maintains a web site at: www.us-rem.com.
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of U.S. Rare Earth Minerals, Inc., and members of management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.