NYMET Holdings, Inc. operates as a scrap metal recycling and scrap metal brokerage company. It engages in the sale of ferrous metal scrap, non-ferrous scrap metals, iron ore, manganese ore, lead, tin ore, chrome ore, and coal, as well as precious metals comprising gold, silver, and copper in Asia and the Pacific Rim countries. The company is headquartered in Port Jefferson, New York.

 

 

 

 

NEW YORK, NY--(Marketwire - 09/07/10) - NYMET Holdings, Inc. (Pinksheets:NYMH - News), an international Metal recycling and mining company with offices now in New York, Chicago, Montreal, India, and Chile, announced it has entered into a definitive agreement with AGS Capital Group, a New York based value fund, to provide investment capital of up to $50 million through a Reserve Equity Financing Facility.
In the Reserve Equity Financing Agreement with New York based AGS Capital Group LLC (www.agscapitalgroup.com), AGS has committed to purchase shares of the Company's common stock for cash consideration up to an aggregate of $50 million after NYMET Form S-1 filing has become effective with the SEC. The Agreement does not prohibit the Company from raising additional debt or equity financings, other than financings similar to this agreement.

"The process of elevating NYMET to a senior exchange -- both as a growth company and as a publicly traded security -- is significantly enhanced by this new AGS facility," said NYMET's Chairman and President T. Benjamin Jennings. "The support of the AGS, combined with this facility, will enable NYMET to execute its acquisition and consolidation plan to further add significant shareholder value. The working capital will enable NYMET to execute its plan of acquisition and consolidation within the scrap metal and mining sector."
In accordance with the agreement, NYMET has retained the Law firm of Ken Denos PC, LLP to file a registration statement on Form S-1 with the Securities and Exchange Commission. Following the effectiveness of the registration statement, NYMET will seek listing on a higher exchange such as NASDAQ or NYSE.
NYMET's mission:
To evolve into the best raw material supplier for the steel production sector using logistics, software, and selective, strategically acquired operating assets. www.nymetholdings.com
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any of the securities referred to in this news release in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

 

 

 

 

NYMET Holdings Inc. (herein after referred to as "Nymet") is a NY based metals and mining holding company founded in November 2006. Nymet has successfully developed working relationships for the sale of commodities both domestically and internationally and holds strategic alliances across the metals recycling and processing industries through its wholly owned subsidiary Nymet Industrial Solutions, Inc.

NYMET Industrial Solutions, Inc.
Nymet Industrial Solutions Inc. (herein after referred to as "Nymet Industrial" or the "Company"), through its trading desk, has successfully developed working relationships across the scrap metal industry and steel production sectors. These relationships include several scrap metal processing facilities located in the Dominican Republic, Puerto Rico, Trinidad, St. Lucia, St. Croix, New Jersey, New York, Texas, Canada, Atlanta Georgia, Detroit and Louisiana. The Company has also developed relationships with several domestic steel mills such as Bayou Steel and Gerdau Ameristeel Steel as well as internationally with Accerlor Mittal and Hyundai having facilities located in Taiwan, India, Bangladesh, Thailand, Singapore and China. These regions are the world's largest steel producers and as such require a large amount of scrap feedstock. Scrap metal is currently the most cost effective feed stock used to produce steel products. It should be noted that with the advancements in steel production, utilizing scrap metal now reduces carbon emissions by approximately 30% compared to the traditional production process of smelting iron ore. Nymet Industrial is currently selling material primarily to Asia and the Pacific Rim countries. The supply of material is met from stockpiles located in the USA, Europe, Caribbean and South American countries.

Website: http://www.nymetholdings.com