SCOTTSDALE, Ariz., Dec. 16, 2004 (PRIMEZONE) -- Mellon Research, Inc. (Pink Sheets:MLON), the market leader in providing boutique investment banking services to private mid cap companies, today announced that it acquired 3,000,000 shares which is less than 5% of Equity Retirement Distributors Canada Ltd. (ERDTF.PK) from Pearl Asian Mining Industries, Inc. (PRMN.PK) in exchange for 500,000,000 newly issued MLON shares subject to SEC RULE 144.
The approximate book value of this acquisition by Mellon Research Inc. at the current market price is $45,000,000.
Mario Pino, Founder and CEO of Mellon Research noted that, "We are excited to be a part of Equity Retirement and believe that this acquisition will bring value and will diversify the holdings of Mellon."
E. Pearl Asian, Founder and Chairman of Pearl Asian Mining commented, "We believe in Mellon Research vision and look forward to their growth."
About Pearl Asian Mining Industries, Inc.
Pearl Asian Mining Industries, Inc. (PRMN) is a fast growing international and multi-national mining company that currently owns 12 gold, silver and other precious mining claims in Vancouver Island plus 50 silver mining claims in British Columbia, Canada, and a Philippines' Mining Production Sharing Agreement (MPSA), an equivalent to the Mining Rights in US & Canada. Pearl Asian's mission is to partner with the Philippine Government in order to acquire abandoned mines with known and proven gold reserves, left untapped and abandoned for centuries. In addition, Pearl Asian is involved in providing products and services targeting the small scale miners in order to create an orderly and sustainable gold and mineral productions that promote the growth of this newly-born, Mining Revival Industry Sector of the Philippines. This Small Scale Mining is the community livelihood economic base that covers 1% of the total Philippines Gold Mines and a substantial amount of Gold production output. Drawing on world-class and world-renowned mining engineers, civil engineers, geologists, and support teams, Pearl Asian Mining Industries, Inc. is leading the Filipino mining industry into the 21st century. Pearl Asian Mining currently trades on the OTC under the symbol: PRMN.
About Mellon Research, Inc.
Founded in the fall of 2003 by Mario Pino - Mellon Research provides comprehensive boutique investment banking consulting services to enable private companies to raise capital via: IPO's, Reverse Mergers, Bridge Capital and or other financial vehicles. Mellon Research is the only multi-national boutique financial services firm that is offering client companies with a structured funding process built around its Financial Prep(TM) services. These services provide client firms with a methodology that helps them analyze existing corporate structure, financial and marketing needs to help them make the right strategic choices necessary to raise capital or go public. For more information visit www.mellonresearch.com
About Wall Street Securities, Inc.
Wall Street Securities (Pink Sheets:WLSC) provides comprehensive boutique investment banking consulting services to enable private companies to raise capital via: IPO's, Reverse Mergers, Bridge Capital and or other financial vehicles. Wall Street Securities is the only multi-national boutique financial services firm that is offering client companies with a structured funding process built around its Financial Prep(tm) services. These services provide client firms with a methodology that helps them analyze existing corporate structure, financial and marketing needs to help them make the right strategic choices necessary to raise capital or go public. http://www.wallstsecurities.com
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.