JDMC Global to build 10,000 homes in South Africa.
It was unanimously decided by the board of directors that the name should be changed as the company will begin diversifying its operations. Although still very active in its original enterprise, mining gold in the Cripple Creek Colorado area, JDMC Global, in agreement with International Synergy Holding Co., is creating an engineering and development affiliation with Louis Lesser, a well known U.S. developer and the experienced Jenkins/Gould Partnership Architects and Surveyors of Great Britain.
Now that JDMC is involved with trade and enterprises on a worldwide scale, it was decided by the board that the name should include "Global" to signify the company's expansion into the world market.
JDMC Global is currently listed on the NASDAQ Bulletin Board and has been mining gold in Colorado for nearly 70 years in the Cripple Creek area. Gold mining is expected to resume in that area in January 1995.
The mining operation will be performed by the Cripple Creek and Victor Mining Co. in joint venture with Minorco Mining, known for being one of the largest mining firms with over 200 employees in the Cripple Creek area. This operation will yield 5% in royalties to JDMC. Recent assay reports in the area indicate this yield should be substantial.
On Oct. 5, 1994, during President Nelson Mandela's visit to the United States, President Bill Clinton announced in a speech at the White House, that Commerce Secretary Ron Brown and his South African Counterpart have created The U.S.-South Africa Business Development Committee to expand the four billion dollars in trade that already exists between the two countries and that American loans will be used to guarantee nearly one half billion dollars of new housing in South Africa.
The chairman of the board of JDMC Global was able to meet with President Mandela during this event and discuss this project with him. Consequently, JDMC's engineering development affiliates have already begun plans for development of the project to build ten thousand new homes in that region. This will not only help contribute to the humanitarian healing of that nation but, is an opportunity for JDMC to be seen as promoter of good will and a participant in worldwide commerce.
In addition to the enterprises, JDMC Global has fully activated its Entertainment Division. JDMC has acquired several film projects, two have been fully developed and pre-production is in full swing on one of the properties now. The film, titled "Games," is slated to begin shooting on location in Southern California in January 1995. It is an entertaining, action-packed film with a strong cast.
With expansion of efforts and diversity of the fields that JDMC Global has recently initiated, it should prove to be a very successful 1995 for the company and the prognosis indicates that JDMC Global will move into the new millennium with financial strength and confidence.
CONTACT: JDMC Global Corp., Los Angeles
Bob Rooks or John Pfarquhar, 310/552-0870
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|Date:||Nov 28, 1994|
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