Standard Metals Processing, Inc. Announces Corporate Name Change To Cambrian Minerals Group, Inc. To Reflect Broader Business Strategy
NEW YORK, Sept. 9, 2015 /PRNewswire/ -- Standard Metals Processing, Inc., "SMPR", (OTCBB: SMPR), announced today that it is changing its corporate name to Cambrian Minerals Group, Inc.
The name change reflects a re-branding initiative to better align the Company's name with its current and future strategy.
"The new name – Cambrian Minerals Group, Inc. – allows us to emphasize our new business objective of providing a full suite of strategic services to junior and mid-sized mining companies around the world," said Bobby Cooper, CEO of Cambrian Metals Group, Inc.
"As our new management team identified opportunities to take advantage of the current dislocation in the commodity markets and formulated our new strategy, it was clear that we needed a new name to better represent the scope of the Company's offerings. The name change to Cambrian Minerals Group reflects the broader focus and strategic solutions we now provide to smaller mining operations, which include financing, processing and management expertise in consideration for long-term royalty, metals streams and material feedstock contracts," continued Cooper.
In alignment with the name change, the Company will shortly be announcing its new website, logo and ticker symbol.
About Standard Metals, Inc.
The Company intends to refocus its efforts into the acquisition and creation of royalty and streaming contracts with junior and mid-size mining companies in order to provide financing to develop or improve their mineral properties. Royalty and streaming arrangements are structures that have been successfully implemented by companies such as Royal Gold, Franco-Nevada, Silver Wheaton, and others. These structures enable mine owners to obtain alternative, less dilutive financing in exchange for an interest in the form of a 'royalty' or a 'metals stream' contract. The Company believes the current dislocation in mining capital markets presents an ideal time to raise capital and provide an alternate form of financing for junior and mid level companies.
Additionally, Standard intends to continue to seek opportunities to construct toll-milling facilities, both domestically and abroad in selective areas. The Company believes that it can organically grow the Company faster by providing needed processing facilities in order to spur the development of mines. In conjunction with providing toll milling solutions, our strategy would be to create royalties and stream contracts with the companies operating the mines who utilize the toll milling arrangement, thus generating two separate and discrete revenue streams from a single mining property.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Standard Metals Processing, Inc.