SALT LAKE CITY, May 16, 2003 (PRIMEZONE) -- Desert Mining, Inc., (OTCBB:DMNG) Desert Mining announced May 9, 2002 that it has entered negotiations with Public Media Works, Inc., a Delaware corporation, ("Public Media") whereby the Company will acquire 100% of Public Media's issued and outstanding common stock in exchange for 35,000,000 shares of the Company's restricted common stock. If completed the Company will effect a 12.6 to one forward split of its currently issued and outstanding shares as well as change the name and add a class of preferred stock to its capital structure. Currently in the due diligence process, the Company anticipates consummating this acquisition by mid June.
In anticipation of this acquisition, the Company will be issuing an information statement including a full description of the transaction along with audited financial statements of Public Media.
Public Media Works, Inc., d/b/a PublicFilmWorks is a film production and marketing company which has developed interactive leading-edge processes and technologies which allow the viewers to participate in the development of high quality, cost effective films for traditional distribution. The company has created a unique revenue earning model which monetizes the film production process and builds a core audience prior to release. PublicFilmWorks was incorporated in May 2000 and is headquartered in Van Nuys, CA.
This press release may contain forward-looking statements. The words "estimate", "possible" and "seeking" and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
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