Windermere, FL, July 06, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Palayan Resources, Inc. (OTC: PLYN) (the "Company" or “PLYN”), an emerging growth gold mining company that engages in the acquisition, exploration, and development of mineral properties, today announced it has filed a Super 8-K on EDGAR with the Securities & Exchange Commission, which includes a change to non-shell status. The transition to non-shell status is a significant step in the Company’s ongoing progress and underscores its ability to build a strong gold exploration and mining presence in Central Asia.
“Our entire team has worked diligently to move Palayan Resources rapidly beyond its shell status with our recent acquisition of SMG-Gold B.V.,” said James Jenkins, President of Palayan Resources, Inc. “I am enthusiastic about our prospects as we push forward to expand our Kokkus Project in Kazakhstan and future exploration and mining opportunities. It is extremely validating to have achieved this important milestone for the Company.”
ABOUT PALAYAN RESOURCES, INC.
Palayan Resources, Inc. is an emerging growth gold mining company that engages in the acquisition, exploration, and development of mineral properties. Management has extensive experience in global exploration and the mining industry. The Company is focused on operating, developing, exploring and acquiring high-quality projects worldwide. Headquartered in Windermere, FL, Palayan Resources is aiming to build a portfolio of low cost, high margin mineral-rich projects.
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This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, securing necessary financing, the future of the U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations pertaining to the mining and exploration of mineral properties. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. The Company has no mineral resource or reserve estimate for the Kokkus Project at this time and may not have sufficient funding to thoroughly explore, drill or develop the project. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.