Pearl Asian Mining Industries Will Buy Back 90% of its Issued and Outstanding Common Shares.MANILA, Philippines -- Pearl Asian Mining Industries, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : PAIM PAIM Product Assurance Integration Manager PAIM Process, Architecture & Information Management PAIM Proactive Identification Model PAIM Pentathlon Aeronautique International Militaire ) will buy back approximately 27,000,000,000 or 90% of its issued and outstanding common shares using a convertible debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. . PAIM will pay par value of $0.001 per share when issuing its convertible debentures. The debentures will be payable without interest in 5 years and be convertible back to common at the rate of $0.01 per share at any time before maturity. As an example, a shareholder owning 1,000,000 common shares will keep 100,000 common shares and receive a debenture with a face value of $900 due and payable in 5 years without interest. Any time during the 5 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time holder will be entitled to convert the debenture to 90,000 common shares. Only shareholders of record on June 1st will be entitled to convert 9 out of every 10 common shares on the exchange date of the 15th of June, 2006 for a debenture. The Company's Chairman of the Board, E. Pearl Asian commented, "We are so optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the future of Pearl Asian Mining that we are taking this calculated risk, going into long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. , certain that when the debentures become payable, our earnings will far exceed the face value of this debt." About The Company Pearl Asian is a developmental and pre-production stage gold mining company with mining interests and claims in the Philippines and Canada. Forward-Looking Statements Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. The Factors that could cause actual result to differ materially from anticipated results includes risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc estimates of reserves, mineral deposits and production costs; mining and development risks. The risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks Inexpensive issues of stock, typically selling at less than $1 a share, in companies that often are newly formed or involved in highly speculative ventures. Penny stocks are usually available for sale over-the-counter, that is, among brokers and customers themselves, as are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as the result of new information, future events or otherwise. |
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