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Posts made in August, 2015

US Rare Earth Minerals, Inc. Denies Knowledge of August 28th Press Release

By on Aug 31, 2015 in Press Release |

LAS VEGAS, Aug 31, 2015 (GLOBE NEWSWIRE via COMTEX) — U.S. Rare Earth Minerals, Inc., (otcqb:USMN) announced today that Management was surprised at the announcement released on Friday, August 28th that stated as follows: Tesla Motors Inc TSLA, +1.37% is building a battery factory, called GigaFactory, in Nevada. The $5 billion investment is aimed at reducing battery costs by roughly 30 percent, “partly by bringing in in-house materials suppliers,” a Wall Street Journal article explained. Early on Friday, the source informed that the automaker has secured long-term supplier agreements with North American companies Bacanora Minerals Ltd (which trades on the CVE exchange under the ticker BCN) and US Rare Earth Minerals Inc USMN, -87.14% which manufacture lithium, the main raw material used in batteries. “For the record, although U.S. Rare Earth Minerals, Inc., (otcqb:USMN) primary product EXCELERITE® contains Lithium, we are not currently engaged in the specific mining and sale of Lithium, however, we are exploring our options for same. Further, USMN has no agreements of any kind with Tesla Motors Inc.” “USMN had no part in this misleading press release and we take no responsibility for it. We want the investing public to know that USMN’s management has strict controls in place to insure that misleading information is never disseminated,” stated Acting Chairman and CEO – Larry ” Bear” Bonafide.” 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®. USMN is headquartered in Reno, Nevada 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...

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Border force launches internal review in wake of ‘badly worded’ press release

By on Aug 31, 2015 in Press Release |

The Australian Border Force has announced an internal review of its “media management and clearance processes” after a “badly worded” press release that appeared to threaten random visa checks forced the cancellation of a Victorian police operation at the weekend. The announcement – in a message to staff from commissioner Roman Quaedvlieg – came as immigration minister Peter Dutton dismissed Friday’s protest sparked by the press release as “a confected demonstration” populated by the construction union and the national socialist alliance rather than “mums and dads”. Quaedvlieg’s internal message to staff said the organisation “would never randomly check people’s visa status – we cannot do so under law and it is not who we are or what we do.” He said the force’s role had been “mis-characterised” by the media, but the organisation’s “media management and clearance processes” had contributed and would now be reviewed by two deputy commissioners. Related: Tony Abbott says border force announcement was ‘over the top’ The government has suggested Victorian border force officials are to blame for the press release, which incorrectly suggested ABF would be “speaking with any individual we cross paths with” during a multi-agency crackdown on crime and antisocial behaviour. But the media adviser for immigration minister Peter Dutton replied “thanks for letting me know” the second time his office was sent the controversial press release on Thursday morning. Guardian Australia revealed at the weekend the release had actually been sent to the immigration minister Peter Dutton’s office twice – as an attachment to a briefing note about the operation. A spokesman for Dutton confirmed the first email had been received on Wednesday afternoon, but said the press release had not been read because it “looked like a routine operation”. The second email, sent from Victorian border force last Thursday morning to both Dutton’s office and the office of assistant immigration minister Michaelia Cash, appeared to be seeking an assurance from the minister’s office that someone had read the material. It read: “Hi, apologies. I should have sent this for noting originally,” and confirmed ABF was intending to publicly post the media release on Friday morning. A staff member for Dutton replied, “Thanks for letting me know.” Related: Australia’s treatment of...

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Tony Abbott calls ABF press release ‘over the top,’ says it was a ‘mistake’

By on Aug 30, 2015 in Press Release |

Australian Border Force will never stop Australian people for random visa checks, Prime Minister Tony Abbott has said. The PM said an Australian Border Force press release declaring the same was a “mistake” and did not represent government policies. According to Abbott, the prime minister’s office has not been aware of the joint agency operation in Melbourne. ABF announced Operation Fortitude for cracking down on visa fraud. Victoria Police cancelled the operation on Friday following a huge public protests and outcry. PM Abbott called the press release “over the top.” “I want to make it absolutely crystal clear, as far as this government is concerned, people will never be stopped in the street randomly and asked for their visa details,” ABC quoted Abbott. “That’s the sort of thing that would never, ever happen in this country.” Abbott said he was not sure which official had issued the press release. “What was happening as part of this Victorian police operation to, I gather, crack down on anti-social and unlawful activity at transport hubs, was that anyone who the Victorian police suspected might have a visa issue would then be referred to Australian Border Force in the normal way,” the Sydney Morning Herald quoted the prime minister. “Nothing untoward happened except for the issue of a poorly worded press release.” It was Don Smith, the ABF regional commander for Victoria and Tasmania, whom the press release quoted. Smith said after the cancellation of the operation that the press release had been “very, very badly worded.” He agreed with Abbott that random people would never be stopped for visa enquiry. The Australian PM, however, said he would not seek answers from Smith. According to the Sydney Morning Herald, he seems to absolve Immigration Minister Peter Dutton of responsibility as well. Contact the writer at feedback@ibtimes.com.au, or let us know what you think...

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Advanced Semiconductor Engineering, Inc. Press Release

By on Aug 29, 2015 in Press Release |

TAIPEI, Taiwan, Aug. 28, 2015 /PRNewswire/ — Advanced Semiconductor Engineering, Inc. (TAIEX: 2311, NYSE: ASX) (“ASE” or “we“) today acknowledged the announcement made public today by Siliconware Precision Electronics Co, Ltd. (“SPIL“) in response to ASE’s tender offer of NT$45 per common share for up to 779,000,000 common shares of SPIL (including the common shares represented by American depositary shares) made starting from August 24, 2015 (the “Tender Offer“) and the hasty announcement made by SPIL regarding the entering into a letter of intent between SPIL and Hon Hai Precision Industry Co., Ltd. (“Hon Hai“) in connection with their strategic alliance (“Hon Hai Deal“). The Tender Offer will continue to proceed in Taiwan and in the U.S. pursuant to the applicable rules and regulations, and will not be affected by the Hon Hai Deal announcement. Based upon the extremely limited information contained in SPIL’s announcement, SPIL has in a four day time period agreed a major transaction with Hon Hai. At no point after commencement of ASE’s bid did SPIL make any effort to determine whether there were possible basis on which ASE’s bid could be acceptable to SPIL. Instead, SPIL has crafted a substantially similar investment structure with Hon Hai, except that it offers zero cash to SPIL’s shareholders, and appears to place an implied value for SPIL of NT$37.86 per common share, compared to ASE’s cash offer price of NT$45 per common share. It is also a discount to SPIL’s current market price. This is difficult to reconcile with the views of SPIL’s certificated public accountant concerning the reasonable valuation range for SPIL’s shares. Similarly, ASE is disappointed that SPIL’s Independent Review Committee raised concerns regarding the reasonableness of the price and purposes of the Tender Offer and recommended SPIL shareholders to refrain from participating in the Tender Offer. As noted above, it is also difficult to reconcile with the proposed Hon Hai Deal, which ASE believes is at implied valuation of SPIL that is a meaningful discount both to the ASE bid price, and SPIL’s own accountant’s valuation range. Under the terms of the Tender Offer, ASE’s bid price is NT$45 per common share, a price which is a compelling 34% premium over the closing price...

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