BEND, Ore., Feb. 9, 2012 (GLOBE NEWSWIRE) -- U.S. Rare Earth Minerals, Inc., (OTCBB:USMN) announced today that the Board of Directors has voted to spin off USMN's wholly owned subsidiary "Bio Multimin, Inc." (BMI). This decision was made due to the recent increased demand and sales of Micro Excelerite® human consumption and cosmetic products. The spin off will be a pro-rata, partial liquidating dividend to the shareholders resulting in two separate and independent companies. Management of USMN has recently been in communication with individuals who have an extensive background in the sale of human health products whom they hope to bring on as new management of BMI. USMN's Board will announce the new Officers, Directors, record date and ratio of the spin off in the coming weeks. Shareholders will be kept apprised of the spin off progress on USMN's website at www.us-rem.com and through public announcements.
About Bio Multimin, Inc. (BMI)
BMI is a Nevada corporation that was incorporated on July 12, 2010 having the same officers, directors and headquarters as USMN. BMI is a wholly owned subsidiary of USMN and is fully operational and conducting manufacturing and sales of Micro Excelerite® human consumption and cosmetic products. BMI is temporarily using USMN's website to accept and fill orders until its new, secure e-commerce website at www.biomultimin.com (now under additional construction) is ready to open.
U.S. Rare Earth Minerals, Inc.
U.S. Rare Earth Minerals, Inc. (USMN), is engaged in the sales and distribution of products derived from the Company's mining activities in Nevada relating to certain natural mineral deposits and other natural rare earth minerals. Products of USMN consist of natural minerals for animal consumption as well as agricultural products sold under the brand name EXCELERITE®. Customers of USMN include some of the world's most widely recognized companies that have well known consumer brands. USMN is headquartered in Bend, Oregon and has executive offices in Las Vegas, Nevada. The company maintains a web site at: www.us-rem.com.
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of U.S. Rare Earth Minerals, Inc., and members of management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.