CaseyCorp Announces Quarterly Update Review: Over $8M Revenues in Profitable Gold Sales

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CASEY CORP

Jan 04, 2010, 09:00 ET

NEW YORK , January 4 /PRNewswire-FirstCall/ -- CaseyCorp Enterprises, Inc. (OTCBB: CCPR), a recycler of precious metals, wishes to update its shareholders with a quarterly review.

On May 14, 2009 , CCPR acquired ESM Refiners, Inc., a gold and precious metals recycle ("ESM"). The total consideration for the acquisition was 5,625,000 shares of CaseyCorp's common stock. ESM is a newly organized New York corporation formed to operate as a wholesale buyer and seller of gold and diamonds. ESM acts as a middleman, aggregating gold and diamonds. ESM purchases these precious metals primarily from retail jewelers who have purchased the metals from their customers. In turn, ESM sells the metals to refiners, who then melt down the gold and produce gold bars.

Following the consummation of the acquisition, ESM became a wholly-owned subsidiary of the CaseyCorp.

Casey Corp's, President and CEO, Mr. Eduard Musheyev , has over 30 years of experience in the gold jewelry market. During this time, Musheyev has set up and managed successful companies involved in manufacturing, retailing, and refining of gold jewelry.

In the first quarter after the acquisition of ESM, Casey Corp showed a positive cash flow and a net profit, with revenues in excess of $8,000,000 .

CaseyCorp anticipates an increase in revenues in 2010. With new investment and a leveraging of its extensive knowledge of the gold market, the Company plans to expand the scope of ESM's activities, increasing its coverage of the supply chain and giving it access to potentially increased revenues and profitability.

Safe Harbor Statement

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "should," "intends," "will," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.

    Contact Information:
    CaseyCorp Enterprises, Inc
    Sergey Musheyev
    [email protected]
    phone: +1-212-3822404

SOURCE CASEY CORP

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