James L. Porter will serve as the President while Louis Porter will serve as the CEO of the surviving company. The new name of the company will be filed with FINRA to be changed to Bayport Corporation along with requesting a new stock symbol. Bayport has hired legal counsel for organizing financial data to immediately prepare for becoming current within the OTC market exchange.
Bayport Corporation has several subsidiaries and affiliates in gold mining as well as Rare Earths, precious minerals and metals. These interests are in Nevada, Utah, Colorado, and Wyoming. Its wholly-owned subsidiary, Cosmic American Rare Earth, Inc. (CARE), has secured a $50,000,000 Rare Earth IPO with Aegis Capital Corporation. Details will be announced in the future.
Non-dilutive financing has been secured. Equipment has already been mobilized and put in place beginning its placer gold mining operations on July 10, 2011 of which all required state permits and approvals have previously been in place with the U.S. Department of the Interior Bureau of Land Management (BLM). These interests are also in Nevada, Utah, Colorado and Wyoming. When mining operations have been up and running for a while, the company would like to invite shareholders out to an open house to give all investors a chance to see the company’s operations and to meet management.
In addition to mining, Bayport has many interests in Seafood with their Lobster Pounds in Maine, plus their shrimp and lobster sales outlet in Las Vegas, Nevada. Bayport has other specialty sea foods from Louisiana, Alaska and Ecuador. Information about these interests along with Bayport’s mining historical and progress reports will be published on the company’s website to include the company’s organizational chart to reflect the variety of assets owned by Bayport Corporation. The company’s website is currently under construction and will be available in the near future to keep shareholders updated.
Bayport Corporation and Shats International Holdings, Inc. have both mutually agreed to cancel previous transactions that originated with Shats international Holdings, Inc. and other companies to allow for Bayport Corporation to focus on its primary mining operations and seafood sales. More announcements will be released to further explain Bayport Corporation’s interest in three newly acquired gold mines and other advancements from their assets.