DALLAS, March 27, 2009 (GLOBE NEWSWIRE) -- Boxwoods, Inc. (OTCBB:BXWD) (the "Company"), today announced the completion of a Share Exchange Agreement that resulted in the Company's ownership in 100% of the issued and outstanding capital stock of Duke Mining Company, Inc.
The Company now operates under the dba, Duke Mining Company ("Duke Mining") and is in the process of making the appropriate filings to make the name change permanent.
Duke Mining is headquartered in Dallas, Texas, and has acquired new technology utilizing air-driven reduction mills to mine, process and explore for gold and other metals in the western United States. This "vortex" technology separates metals from clay using principles of centrifugal force, which can allow the recovery of gold and other platinum-grade metals that have previously been bypassed.
The technology is particularly well-suited for mining within the Company's property located in southeast Utah. The sand and sediment that blankets the area is of a hydrothermal origin and was formed when ore-bearing solutions migrated up the Lisbon Valley fault zone. The metals that the Company plans to extract are microscopic in size and were referred to as "flour" gold by the old timers.
The Company's website is www.dukegold.com.
This press release may contain "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.