|By Marketwired .||
|August 19, 2014 03:58 PM EDT||
WICKENBURG, AZ -- (Marketwired) -- 08/19/14 -- Mining Global, Inc. (PINKSHEETS: MNGG) announced today that is has made significant progress on reducing its overall debt structure.
"Through a combination of due diligence and fruitful negotiations with debt holders, we've been making significant progress with reducing the amount of debt on our balance sheet," said Joel J. Natario, Chief Executive Officer of Mining Global, Inc. "In doing this, we have successfully delivered a massive shot in the arm to our book value, which should translate into a stronger stock price as shareholders begin to take notice. Ultimately our plan is to be debt free by year's end 2014."
Since the arrival of the new management team in May of 2014, the Company began with more than $3 million in debt, as reported in its last 10-K, and has successfully lowered that amount to under $1 million, for a net reduction of more than $2 million worth of debt, as of August 19, 2014.
Disclosures can be found on the Company's online disclosure portal at: http://www.otcmarkets.com/stock/MNGG/filings
About Mining Global Inc.
Mining Global's objective is to build and operate world-class mines and develop a robust portfolio of assets in North America with the focus on organic growth and early stage acquisitions. The exceptional experience and strength of Mining Global's management team, combined with the excellent infrastructure and robust economics of the Arizona mining industry, sets Mining Global to become a leading Gold development and mining company.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
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