NEW YORK, Aug. 26, 2010 (GLOBE NEWSWIRE) -- El Maniel International Inc. (Pink Sheets:EMLL) announces today that it has begun the process to monetize its Stamps and Collectibles company ownership stake via possible sale of the asset or loan against it, "…The latter being the preferred method by EMLL Board as it allows us to utilize funds against the asset, without sacrificing long-term growth, as many collections, on average, can return between 10-12% per annum," states CEO of EMLL, Jamie Khoo.
EMLL is currently in discussion with a UK based Venture Capital Firm looking to provide an Equity Line of Credit Facilities on EMLL's philatelic investments. Initial communications have gone decidedly well and EMLL is underway to supply additional paperwork towards a mutually satisfactory deal to be sealed with a Letter of Intent by the VC as expected in the coming days.
"Many people may not think of investment in stamps (philatelic investments) as a 'liquid' asset," states Jamie Khoo. "However, stamp collections are more 'liquid' than arrow-heads, fire-arms, etc., and there is always a market for carefully selected copies. These assets hold their value more than most and they also show the best possibilities for increase in value. In most large cities around the world there are reputable firms that will lend money on collections."
El Maniel International Inc.'s default strategy started off on communications with a premier UK Philatelic Brokerage House who regularly assists in the buying and selling of collections to their pool of investment clients. EMLL believes that either of the two scenarios would be a viable option to capitalize on EMLL investments towards expediting an attractive development that would amplify the progress of its projects.
"The company is also well underway on its website 'renovation' which should be up and running over the next fortnight," states Jamie Khoo. "This website is designed to better reflect our corporate image encompassing our project information with up-to-date progress and investor relations portal."
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
Press Release drafted by NMR, LLC