LAS VEGAS, May 07, 2024 (GLOBE NEWSWIRE) -- via IBN -GEMXX Corporation ( OTC: GEMZ ) ("GEMXX" or the "Company"), GEMXX Corporation is strategically expanding its business model to include private equity funding for oil and gas (O&G) exploration. Leveraging its many relationships around the world, and newly formed strategic partnerships, this new business channel will fund exploration of giant (500 million barrels) and super-giant (3 billion+ barrels) oil fields in Latin America.
The addition of this new business channel represents a calculated move to tap into moderate-risk, high-reward onshore O&G opportunities. The targeted focus is on overlooked and very underexplored basins, which Company research confirms are the correct conditions to hold substantial oil reserves. Utilizing an extensive O&G network including major global players, GEMXX aims to forge robust strategic partnerships and secure essential capital to quickly advance these ambitious exploration projects.
Currently, GEMXX is in final negotiations to secure financing for an impressive four-well, wildcat drilling program aimed at discovering vast O&G reserves. For this initiative, the Company is strategically shifting towards private equity funding. GEMXX aims to enhance its presence in the global energy market but also create maximum shareholder value by ensuring lucrative returns on investment.
Further, GEMXX is very pleased to announce the appointment of Deane Preston to its Board of Directors, effective May 15, 2024. With a distinguished career marked by expertise in electrical infrastructure planning, installation and management, Preston brings invaluable insights and leadership to the GEMXX team.
"We are delighted to welcome Mr. Preston to the GEMXX Corporation Board of Directors," said Richard Clowater, GEMXX CEO and Chairman of the Board. "Mr. Preston’s wealth of experience and proven track record in the energy infrastructure sector align perfectly with our strategic goals. We look forward to leveraging his expertise as we continue to drive innovation and excellence."
Preston's appointment to the GEMXX Board of Directors underscores the company's commitment to excellence and innovation. His appointment further strengthens GEMXX Corporation's leadership team, positioning the company for continued success and growth in the dynamic energy market.
ABOUT GEMXX CORPORATION
GEMXX Corporation (OTC: GEMZ; $GEMZ) is a publicly traded, mine-to-market gold, gemstone and jewelry producer with global reach. GEMXX controls each stage of its production including gemstone production, jewelry manufacturing and global distribution.
The company is also strategically expanding its business model to include private equity funding for the exploration of potential giant and super-giant oil fields in Latin America. This new business channel represents a calculated move to identify rare, overlooked, or underexplored basins believed to contain substantial oil reserves.
With a global reach and a steadfast commitment to excellence and innovation, GEMXX Corporation is well positioned to navigate the evolving market landscape and drive long-term success for our shareholders.
For more information, please visit: GEMXX Corporation
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes; our ability to expand our customer base and retain existing customers; our ability to effectively compete in our market segment; the lack of public information on our company; our ability to raise sufficient capital to fund our business operations; our ability to continue as a going concern; and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Signed. /S/ Richard Clowater, CEO
GEMXX Corporation
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