NEW YORK, March 07, 2023 (GLOBE NEWSWIRE) -- Brookmount Gold (Brookmount Explorations, Inc.) (OTC: BMXI) (BMXI.US) announced during its investor call today, March 7th, 2023, that it is taking significant steps to prepare for uplisting on a senior exchange such as NYSE or Nasdaq.
This move is in line with the Company's long-term goal of improving liquidity, expanding its investor base, and enhancing shareholder value. The Company's management team is working closely with its advisors to meet the exchange's listing requirements and is optimistic about achieving this significant milestone soon.
Additionally, during the call, Nils Ollquist, Executive Director and CEO of Brookmount Gold, discussed the company's strong financial performance in 2022 and its positive outlook for 2023. The company reported a revenue of $16.35 million, a 16.2% increase over the previous fiscal year, and a net income of $7.49 million, a 12.8% increase over the latest period. The company's assets have also grown to $30.5 million, a 39.1% increase over the last year.
"We are pleased to report strong financial results for 2022," said Nils Ollquist, CEO of Brookmount Gold. "Our continued focus on exploration and development has allowed us to increase our revenue and net income, and we are excited about the growth opportunities ahead of us."
During the call, Ollquist also highlighted the recent agreement to acquire of a 75% interest in the Tocantins project, a gold mining operation in Brazil, and the appointment of three new Executive Directors as part of the binding agreement to acquire the Brazilian Asset. Ollquist emphasized the company's commitment to creating value for its shareholders and its confidence in its ability to execute its strategic objectives in 2023 and beyond.
"We are committed to creating value for our shareholders and are confident in our ability to execute on our strategic objectives in 2023 and beyond," said Ollquist. "We look forward to continuing to grow our business and delivering strong financial results for our investors."
Brookmount Gold remains committed to providing transparent and timely financial information to its investors and encourages investors and stakeholders to review the financial calendar and stay informed about the company's financial performance. A replay of the call is available on the investor relations website (https://www.bmxigold.com/webinars).
Founded in 2018, Brookmount Gold is a high-growth gold-producing company incorporated and quoted on OTC Markets in the United States with operating gold mines in Southeast Asia and exploration and production assets in North America. The company is actively seeking to secure additional high-quality gold assets with JORC/NI 43-101 verified resources.
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Except for the historical information contained herein, certain of the matters discussed in this communication constitute "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "could," "anticipate," "estimate," "expect," "predict," "project," "future," "potential," "intend," "seek to," "plan," "assume," "believe," "target," "forecast," "goal," "objective," "continue" or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the benefits of the proposed license, expected synergies, anticipated future financial and operating performance and results, including estimates of growth. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, the expected timing and likelihood of completion of the pending transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending transaction that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstance that could give rise to the termination of the negotiations, the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Brookmount's common stock. All such factors are difficult to predict and are beyond our control. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulations.
