BEND, Ore., Sept. 13, 2012 (GLOBE NEWSWIRE) -- U.S. Rare Earth Minerals, Inc. (OTCQB:USMN) announced that its international distributor, International Business Alliance, LLC (IBA) has obtained a permit from the Vietnamese government allowing them to distribute and sell EXCELERITE® throughout that country. IBA has also secured warehouse facilities and a permit to import EXCELERITE® into Vietnam. IBA has placed an initial order for 50 metric tons of EXCELERITE® with USMN for immediate shipment to Vietnam.
The President of USMN, Dennis Cullison, stated, "Entering the Agricultural Industry in Vietnam is usually a 3-5 year process and costs several million dollars, yet, IBA has obtained entry approval. This was due to their years of import/export experience and development of important contacts in Vietnam." He further stated, "South Asia is the world's second largest consumer of fertilizer in the world and East Asia is the world's largest fertilizer producer and consumer. Vietnam will need to import about 2.63 million tons of fertilizers this year because domestic production can only meet 73% of the estimated demand of 9.88 million tons." Mr. Tieno Huynh, CEO of IBA, said, "I will be returning to Vietnam shortly to meet with some of the world's largest agriculture products distributors to sign contracts. IBA's intent is to import EXCELERITE® into Vietnam to assist in improving the soil, increasing the nutrition levels and improving the farmer's yield. We anticipate large orders following the disbursement and use of the first 50 metric tons of EXCELERITE®."
About International Business Alliance, LLC
International Business Alliance, LLC (IBA) is an international export and trading company with U.S. offices in Portland, Oregon. Among its export products IBA has an exclusive right to distribute EXCELERITE® throughout South East Asia. IBA is managed by Tieno Huynh, CEO and Mary Huynh, Chairman from their Vietnam and USA offices. The company operates a website at: http://www.excelerite.vn.
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.