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Royal Acquisitions and Development, Inc. to Review PDI Mining Agreement
ATLANTA-(Business Wire)-May 19, 2008 - Royal Acquisitions and Development, Inc. (OTCIQ.PK:RQST) will conduct a further review of the agreement with PDI Mining, LLC. After exhaustive due diligence, the Company has determined that it may not be in the best interest of the Company or its shareholders to continue to move forward with the Mexican mining project. "In our quest to bring the optimum return on investment to our shareholders, we came to the conclusion that the mining operation in Mexico may be too cost restrictive and could take an excessive amount of time to start generating revenue and profits for the Company," stated Chris Winter, President of Royal Acquisitions and Development, Inc.
Mr. Winter went on to say, "The real estate and mining landscape has changed dramatically in 2008 and finding short term revenue producing projects was of paramount importance to us. In addition to our mining and real estate operations, the Company is exploiting other business opportunities."
"Safe harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as TI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," or other words or phrases of similar import. Similarly, statements in this release that describe our business strategy, outlook, objectives, plans, intentions or goals are also forward looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
For more information, please contact us at info@rqstinc.net.
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