Los Angeles, California – August 31, 2020 — — Brookmount Explorations, Inc. (OTC PINK: BMXI) (“Brookmount”), a Nevada incorporated company, is pleased to announce that the Company has received consent from its board of directors that, subject to receipt of approval of a majority of the Company’s shareholders, the name of the Company will be changed to Brookmount Gold Corporation from Brookmount Explorations, Inc. to more accurately reflect the Company’s status as an active operator and producer in the gold mining sector. In announcing this change, Brett Morley CEO commented, “This proposed change of name represents an important step in our current mission to position Brookmount as both a recognized producer of gold and aggregator of high quality gold mining assets in our key target markets of Indonesia and Australia. Prior to our acquisition of the company in 2018, Brookmount’s primary focus was exploration, particularly in Latin America. However, the Company’s profile has since transitioned to an operator, as a result of which the board felt the need to change the Company’s name to more accurately reflect the nature of our business which is primarily that of a gold producer. Our planned acquisition of a number of high-quality concessions in Australia reflects our strategy to broaden the company’s geographic risk profile and develop a valuable global platform encompassing high quality, income producing gold assets.”
Brookmount currently conducts its gold mining and processing operations through its Indonesian subsidiary incorporated in Sulawesi Province, Republic of Indonesia, one of Asia most dynamic and rapidly expanding economies with extensive reserves of natural resources and minerals including timber, coal, gold and hydrocarbons. The Company has also established an office in Melbourne, Australia and is actively seeking opportunities in what is one of the worlds leading gold producers.
Safe Harbor Statements:
Except for the historical information contained herein, certain of the matters discussed in this communication constitute “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995. Words such as “may,” “might,” “will,” “should,” “could,” “anticipate,” “estimate,” “expect,” “predict,” “project,” “future,” “potential,” “intend,” “seek to,” “plan,” “assume,” “believe,” “target,” “forecast,” “goal,” “objective,” “continue” or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed license, expected synergies, anticipated future financial and operating performance and results, including estimates of growth. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, the expected timing and likelihood of completion of the pending transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending transaction that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstance that could give rise to the termination of the negotiations, the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Brookmount’s common stock. All such factors are difficult to predict and are beyond our control. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulations.
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