SALT LAKE CITY, Nov. 9, 1999 (PRIMEZONE) -- The New Anaconda Company, Inc. (OTCBB:NANAE) is one of six targeted companies participating in a unique, new, fixed income equity fund: The Foureyes Guaranteed Equity Fund No. 1 Ltd., through Taurus International Investments, Inc. (located at www.taurusinvestment.com, email info@TaurusInvestment.com).
Paul A. de Rome, President of the Company, stated, "New Anaconda is pleased that the fund sponsors and Taurus consider the Company to have sufficient strength to be included and effectively form 60 percent of the proposed fund portfolio, subject to the successful placement of the fund by Taurus the future business plans of the Company are able to be implemented immediately and allows the acceleration of the construction of the production plant."
Paul de Rome further stated that "as the spokesperson for the majority shareholders it is confirmed that 24 million restricted shares of The New Anaconda Company have been allocated by the majority shareholders for sale to the fund together with a pledge of an equal number of shares as security to the fund managers and guarantors.
This commitment provides the main underpin to the structure of the fund and it is expected that upon the successful placement of the fund by Taurus that the institutional support will provide stability and strength to the market relative to the Company's stock."
The New Anaconda Company, a technology and natural resources company, is focusing its efforts on the utilization of the newly acquired technology relating to the chemical engineering and processing of ore material which leads to the recovery of base and precious metal oxides.
The foregoing contains forward-looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, such words as "may," "will, "anticipate," "estimate," "continue," or comparable terminology are intended to identify forward -looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors, included, but not limited to, successful capital raising activities of the fund.