BEND, Ore., Nov. 27, 2012 (GLOBE NEWSWIRE) -- U.S. Rare Earth Minerals, Inc., (OTCQB:USMN) announced today, that the spin off of its wholly owned subsidiary, Bio Multimin, Inc. (BMI), is set for December 31, 2012. USMN shareholders of record on December 31, 2012 will receive one share on BMI for every five USMN shares owned. The shares will be paid out on January 15, 2013. Dennis Cullison, President of USMN stated, "This has been a long awaited announcement and I want to express my thanks to our shareholders for their patience while we searched for qualified management to run BMI. We hit the jackpot with this new team! USMN will soon announce the new Officers and Directors of BMI."
About Bio Multimin, Inc.
BMI is a Nevada corporation, incorporated on July 12, 2010 as a wholly owned subsidiary of USMN. BMI is fully operational in product development, manufacturing and sales of Excelerite® livestock and agriculture products. BMI is temporarily using USMN's website to accept and fill product orders until its new, secure e-commerce website at www.biomultimin.com (now under additional construction) is ready to open.
U.S. Rare Earth Minerals, Inc.
U.S. Rare Earth Minerals, Inc. (USMN) is engaged in the sales and distribution of products derived from the Company's mining activities in Nevada relating to certain natural mineral deposits and other natural rare earth minerals. Products of USMN consist of natural minerals for animal consumption as well as agricultural products sold under the brand name EXCELERITE®. Customers of USMN include some of the world's most widely recognized companies that have well known consumer brands. USMN is headquartered in Bend, Oregon and has executive offices in Las Vegas, Nevada. The company maintains a web site at: www.us-rem.com.
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of U.S. Rare Earth Minerals, Inc., and members of management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.