SACRAMENTO, Calif., June 30, 2014 (GLOBE NEWSWIRE) -- Gold Mining USA, Inc. ("Gold Mining USA" or the "Company") (OTC:GMUI) today announced management's plans to conduct and then publish additional due diligence on the business, assets (resources and reserves), legal, tax, actual and contingent liabilities, operations, and condition of the Company, which includes in its scope, the Company's expectation of making available higher-quality financial reporting.
The Company is currently in ongoing discussions with third-party investors, risk-transfer consultants, investment bankers, and potential investees concerning the Company's prospects for the future, its access to capital, the appetite of insurance markets to accept and manage risk from the Company, the availability of future business opportunities to the Company and advisable capital restructuring possibilities.
This plan was adopted by management today in light of its recent acquisition of additional assets and underscores the Company's commitment to attempt to reduce acquisition risk, enhance its standard of reporting, and appropriately manage investor expectations. In addition to reporting consultants, an independent auditing firm registered with the Public Company Accounting Oversight Board will be engaged within the next week to publish its report to the Board of Directors of the Company.
The audit planning is for this independent report to be made available and filed with OTC Markets Group not later than August 14, 2014. The Company approved within this plan management's intent to, at the time of publication, make any and all recommended or required revisions to Gold Mining USA's financial statements.
About Gold Mining USA
Gold Mining USA, Inc., an exploration stage company, focused on the exploration and development of metallurgical and mining projects in the United States. The company's silver and gold mining assets are concentrated in the State of Nevada. Gold Mining USA, Inc., formerly Standard Oil Company USA Inc., was founded 1995 and is headquartered in Sacramento, California.
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Gold Mining USA to be materially different from those expressed or implied by such forward-looking statements. Gold Mining USA's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its future plans; (ii) acquire and retain adequate management to operate the Company; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.
CONTACT: 209-386-7753 firstname.lastname@example.orgSource:Gold Mining USA, Inc.