BOTHELL, Wash., May 14, 2012 /PRNewswire/ — Borneo Resource Investments Ltd. (OTCPK: BRNE), announced today that it has filed a Registration Statement on Form 10 with the U.S. Securities and Exchange Commission (SEC). Once the registration statement is declared effective by the SEC, BRNE will become a fully-reporting company and begin trading on the OTCQB stock exchange. The Registration Statement on Form 10 filing includes audited financial statements as well as other pertinent business information required by the SEC.
“Filing our Registration Statement on Form 10 will allow us to pursue our goals of providing greater transparency and liquidity for our shareholders, increasing our access to capital and listing Borneo’s shares on a U.S. national securities exchange,” said Nils Ollquist, Borneo Resource Investments’ President and Chief Executive Officer.
Borneo’s mission is to develop a platform of prime quality energy assets in Borneo, Indonesia, one of the world largest areas of high grade thermal coal reserves, through acquisition of coal mining concessions and licenses with verified reserves and export potential
About Borneo Resource Investments Ltd. (BRNE).
Borneo Resource Investments Ltd., with and through its wholly-owned subsidiary Interich International Limited, obtains mining concessions to explore and develop coal reserves primarily in the East Kalimantan region of the Republic of Indonesia.
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, we are using forward looking statements when we discuss the indications that estimate the value and amount of our coal reserves. These forward-looking statements are based on the current expectations of the management of Borneo Resource Investments Ltd. only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in the price of coal, a change in the estimate of coal on our concessions, an inability to extract the coal reserves and changes in Indonesian law. Except as otherwise required by law, Borneo Resource Investments Ltd. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Relations Contact:
For the Company:
Borneo Resource Investments Ltd.
R. Scott Chaykin, CFO
SOURCE Borneo Resource Investments Ltd.