Agreement with AGS is expected to elevate company to senior exchange
By Devika Patel
Knoxville, Tenn., Sept. 7 - Nymet Holdings, Inc. negotiated a $50 million reserve equity financing agreement with AGS Capital Group, LLC, according to a company press release.
"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," Nymet's chairman and president T. Benjamin Jennings stated.
"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."
The raw material supplier for the steel production sector is based in New York.
| Issuer: | Nymet Holdings, Inc.
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| Issue: | Reserve equity financing agreement
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| Amount: | $50 million
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| Warrants: | No
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| Investor: | AGS Capital Group, LLC
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| Settlement date: | Sept. 7
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| Stock symbol: | Pink Sheets: NYMH
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| Stock price: | $0.23 at close Sept. 7
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