Contact Information: Investor Relations Contact: Hawk Associates, Inc. Antonella Montagna and Frank Hawkins Phone: 305-451-1888 E-mail:
Providential Holdings Forms IndoChina Mining Corporation
| Source: Providential Holdings, Inc.
LOS ANGELES, CA and HO CHI MINH CITY, VIETNAM--(Marketwire - April 8, 2008) - Providential
Holdings, Inc. (OTCBB : PRVH ), a company providing advisory, merger and
acquisition services as well as independently investing in Vietnamese
economic opportunities, has formed IndoChina Mining Corporation with the
view of acquiring mining rights and equity interests in mining corporations
located in Vietnam, Laos and Cambodia.
IndoChina Mining Corporation is expected to form joint ventures for the
exploitation of mineral deposits that Providential has already located and
is currently targeting. The company has identified mining opportunities for
copper in Cambodia, tin and gold in Laos and bauxite, diatomite, flourite
and ilmenite (iron titanium oxide) in Vietnam.
Tai Vo, President of Providential Vietnam (PHI Vietnam), said, "IndoChina
Mining Corp. plans to leverage Providential's existing relationships with
mining companies in the region and pursue other opportunities there. We
have already located a current diatomite mine with a capacity estimated to
be more than two million tons and have also begun searching for skilled
personnel to lead Providential's new venture."
Henry Fahman, CEO of Providential Holdings (PHI), said, "Forming IndoChina
Mining Corp. is a natural progression of PHI's increasing focus in this
area as we have considered participating in the mining sector in Indochina
for some time. Not only have we been able to locate highly promising sites
for mining opportunities, we have also been in advanced negotiations with a
number of local mining operators which may lead to some imminent
transactions in the near future."
About Providential Holdings, Inc.
Providential Holdings and its subsidiaries engage in a number of diverse
business activities, the most important of which are M&A advisory services
and investing in the rapidly growing economies of Vietnam and Asia. As part
of its activities in Vietnam, Providential has been hosting seminars in
conjunction with the Nasdaq Stock Market, the Vietnamese Chamber of
Commerce and Industry and a leading U.S. investment banking firm, to help
Vietnamese companies go public and raise capital through the U.S. financial
markets. For more information on Providential Holdings, visit
http://www.phiglobal.com.
A profile for investors can be accessed at
http://www.hawkassociates.com/profile/prvh.cfm.
For investor relations questions regarding Providential, contact Antonella
Montagna or Frank Hawkins, Hawk Associates, at 305-451-1888, e-mail:
Providential.Holdings@hawkassociates.com or visit
http://www.americanmicrocaps.com or http://www.hawkassociates.com. To sign
up for free e-mail notification of future releases, visit
http://www.hawkassociates.com/about/alert.
Safe Harbor: This news release contains forward-looking statements that are
subject to certain risks and uncertainties that may cause actual results to
differ materially from those projected on the basis of such forward-looking
statements. Such forward-looking statements are made based upon
management's beliefs, as well as assumptions made by, and information
currently available to, management pursuant to the "safe-harbor" provisions
of the Private Securities Litigation Reform Act of 1995.