Santa Ana, California, May 23, 2017 (GLOBE NEWSWIRE) -- The Graystone Company (OTC:GYST) announced today an update on current mining operations.
CEO M.T. Soeparmo stated, “We have been aggressively expanding our cannabis operations and have additional cannabis related news to share with the investment community soon, but we did not want our investors to forget that the company also has a significant asset and revenue base in the mining industry. Today, we want to take this opportunity to bring our investors up to date on that front.”
Graystone’s mining operations focuses primarily on acquiring properties that require a lower capital investment to begin mining operations. This approach may reduce the size of the deposits that the company can produce, however, by generating revenue from smaller mining ventures, the company can build a solid foundation and the needed infrastructure to undertake larger ventures such as hard rock projects in the future.
Mr. Soeparmo said, “Our current mining operation is located in Suriname and is a 160-acre site. With only 12 acres of that being mined currently, the operation has already achieved break even status. 148 acres is still yet to be mined actively so we estimate a five to seven year life span on the current 12 acres and tested locations with other locations currently being scouted.
Mr. Soeparmo finished up with, “We could not be more pleased with our current business operations. The cannabis business has exploded in a very short time frame and our mining operations provide a sizable long term contribution to our revenue goals. We look forward to sharing more information with investors in the coming weeks including an up to date website that outlines our current business operations, recent press and financials.”
About The Graystone Company, Inc.: Graystone is building out a scalable business operation in the Cannabis Industry that includes multiple Cannabis Delivery Services and Dispensaries. The initial Delivery Service began operations in March 2017 and has rapidly expanded into multiple target markets with plans for aggressive expansion for the remainder of 2017. The company also has mining operations in Suriname and is actively scouting additional locations for future projects.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. 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. 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 and interim reports.