Markray Announces That the Company is Engaged in Buyout Discussions

CAMBRIDGE, Mass., March 1, 2012  /PRNewswire/ -- Markray Corp (Pinksheets: RVBR) announced today that following the interest of its financial partner to acquire the outstanding shares of the Company as well as all the rights to the options the Company has to process additional minerals, it contacted the major shareholder to discuss the matter.

The major shareholder, Olga Smolinkova , expressed an interest to sell her stock but not at any price. She confirms that the report made under National Instrument 43-101 stipulates that the value of the assets of rare earth minerals exceed $5 billion and that he extraction process is not difficult.

She stated, '' The value of the assets are enormous and I would not even think of an offer under $1.00.''  She adds, ''The Company is stable and it should not be given away since its potential is assured; a minimum of capital will permit production to grow by multiples.''

She also pointed out that there are only 195,294,00 shares that are outstanding as stipulated on the OTC website and not over 400,000,000  outstanding shares as reported on certain financial sites.

The Company shall continue negotiations and expect results early next week.

About Markray

Markray is in the business of extracting precious metals from stockpiles of raw material.  A geological audit of its current reserves concludes that there are the following minerals in the stockpile currently being processed:

The company plans to acquire additional facilities to increase its reserves. Each facility shall be processed by a unique modular plant. 

Contact:
Andrei Smirnoff
[email protected]

Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include the fluctuations in the price of gold and in the event of severe weather conditions. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

SOURCE Markray Corp

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