Gold and Gemstone Mining, Inc., Announces Record Fiscal Year 2022 Results

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May 18, 2023, 10:00 ET

JAKARTA, Indonesia, May 18, 2023 /PRNewswire/ -- Gold and GemStone Mining, Inc. (OTC: GGSM); "the Company") Posts another year of excellent revenues and continues to expand its operations as world travel to Indonesia is projected to reach record numbers.

Gold and Gemstone Mining, Inc. increased revenues by 323% and net profit by 325% for the year and aims to continue its growth with an expansion to the "Island of the Gods," Bali, Indonesia.

Rudy Khelces, CEO, states, "Our team's remarkable work in 2022 delivered an outstanding, double-digit sales increase and record financial results for the second consecutive year. We're more confident than ever in our short and long-term business and development models, continuing our fast pace next era of growth."

en.Tempo.co, Jakarta Business & Economy, Tourism Minister Increases Tourist Visitation Goal To 8.5 Million in 2023. The Indonesian tourism ministry has confirmed a surge of 8.5 million international arrivals to the country this year. Sandiaga Uno Tourism Minister told reporters in Jakarta we are aiming to generate between $2.07 billion and $5.95 billion in foreign exchange earnings in 2023.

Rudy Khelces, CEO, states, "Our solid revenue performance and cash flow provide a solid foundation for acquiring or investing in significant growth opportunities and continue to scale up development of new and current business units to take advantage of Indonesian projected tourism and Cargo transportation business units."

Foreign tourist arrivals in Indonesia have jumped 470.37 percent year-on-year, according to www.tradingeconomics.com, with a recovery in the tourism sector gaining momentum as the economy fully reopened from COVID restrictions.

GGSM continues to invest in constructing resorts, villas, hotels, and other properties and services to meet tourism demands. With a commitment to delivering shareholder value.

Corporate Address

Slipi Tower
Jalan S. Parman Kav. 22-24
Jakarta, Indonesia (Lantai 5 PriOffice)
Kota Jakarta Barat, Indonesia 11480

The Company will announce key information to investors using Facebook and Twitter social media in compliance with Regulation FD

ABOUT GGSM CORPORATION

GGSM is a publicly-traded company engaged in the charter boat business in the Mentawai Islands and Beyond. The Kuda Laut's charter vessel is a Mentawai Surf Charter vessel to the World-Famous Mentawai Islands. The Kuda Laut has been chartering to the Mentawai, Telos, Nias, and Banyak Islands for over 25 seasons. From the Lagundri Bay in Nias, the Hinakos, the Bay of Plenty in the Banyaks, the Telos long rights, and the famous waves in the Mentawai, such as Rifles. No Kandui, Ebay, etc., in the Playground, to telescopes, Bintang, Lances Right.

SAFE HARBOR STATEMENT

This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our Company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

For More Information, visit https://ggsmglobal.com

Gold and Gemstone Mining, Inc., Investor Relations

Website: https://ggsmglobal.com

Email: [email protected]

SOURCE Gold and Gemstone Mining, Inc.