Brookmount Explorations, Inc. Updates Progress on Audit

LOS ANGELES, Dec. 04, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE-- Brookmount Explorations, Inc. (“Brookmount”), a Nevada incorporated company (OTC “BMXI”) today confirmed that the company’s auditors, ShineWing Australia, part of the ShineWing Group, the largest accounting practice in China and a member of Praxity Alliance, the world’s largest alliance of international accounting firms, is nearing completion of its review and fieldwork relating to financial statements for 2016, 2017 and the “stub” period for 2018 as required to be included in The Company’s forthcoming Form 10 filing to transition The Company to fully reporting status. It is anticipated that preliminary accounts and audit comments from The Company’s Indonesian operations will be submitted to the Melbourne head office of ShineWing Australia by the middle of December for review and compilation of the draft audit which is expected to be available by early January.

The Company recently strengthened its finance and accounting team in Indonesia through the appointment of a new Financial Manager, Josef Warouw, a financial accountant and CPA with extensive experience working for International companies in Indonesia. The Company recently announced its agreement to act as Sales Agent for a number of independent, operators in the Alason gold production area in Minahasa Regency. Given the significant increase in revenue forthcoming from this initiative, as well as the increased responsibility and workload arising from The Company’s likely SEC filing obligations, The Company will continue to strengthen and build its finance and administration team to enhance its capacity to ensure compliance with reporting standards and filing deadlines.

Brookmount conducts its gold mining and processing operations through its Indonesian subsidiary incorporated in Sulawesi Province, Republic of Indonesia, one of Asia’s most dynamic and rapidly expanding economies with extensive reserves of natural resources and minerals including timber, coal, gold, and hydrocarbons.  

Safe Harbor Statements:

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 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.

For more information:

Brokers and Analysts:

Chesapeake Group



410 8253930

Brookmount Explorations, Inc.

Tel: 213.266.7661