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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
February 27, 1998
Date of report (Date of earliest event reported)
NEVADA MANHATTAN MINING INCORPORATED
(Exact Name of Registrant as Specified in Its Charter)
NEVADA
(State or Other Jurisdiction of Incorporation)
001-12867 88-0219765
(Commission File Number) (IRS Employer Identification No.)
5038 N. PARKWAY CALABASAS, SUITE #100, CALABASAS, CA 91302
(Address of Principal Executive Offices) (Zip Code)
(818) 591-4400
(Issuer's Telephone Number, Including Area Code)
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Item 5. Other Events.
This report is filed solely to file with the Securities and Exchange
Commission (i) the press release issued on February 27, 1998 announcing that the
Company commenced timber operations in Tome-Acu, in the Amazon Basin, within the
same region as current operations in Brazil, based on recommendations from
outside consultants related to timber production and environmental management;
and (ii) the press release issued on March 11, 1998 announcing the Company
executed an agreement with Metsa Timber Ltd., granting Metsa distribution and
sales rights for the timber and timber-related products produced in the
Company's Brazilian timber operations. Metsa will provide the Company with
management and development assistance in the Company's Brazilian operations.
Item 7. Financial Statements and Exhibits
(c)
Exhibit Number Reference
(99) Additional Exhibits
Press Release dated February 27, 1998 Exhibit 99.1
Press Release dated March 11, 1998 Exhibit 99.2
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
NEVADA MANHATTAN MINING, INCORPORATED
(Registrant)
Date: March 12, 1998 BY: /s/ Jeffrey S. Kramer
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JEFFREY S. KRAMER
CHIEF FINANCIAL OFFICER
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EXHIBIT INDEX
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EXHIBIT NO. DESCRIPTION
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<S> <C>
99.1 Press Release dated February 27, 1998
99.2 Press Release dated March 11, 1998
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EXHIBIT 99.1
NEVADA MANHATTAN MINING, INC. COMMENCES TIMBER
OPERATIONS IN TOME-ACU
CALABASAS, Calif.--(BUSINESS WIRE)--Feb. 27, 1998--Nevada Manhattan Mining, Inc.
(OTC BB: NVMH - news) announced today that based on recommendations from outside
consultants related to timber production and environmental management, the
Company began transporting an initial 1,000 cubic meters of the Company's
inventory of raw materials to Tome-Acu, in the Amazon Basin within the same
region as current operations.
Timber production in this location should commence as early as March 2, 1998.
These new timber milling operations commenced in anticipation of acquiring a
leasehold interest in an operating sawmill located in this area in which
hardwood is readily available for harvesting for approximately the next fifteen
years. "By doing this, the Company will be able to substantially reduce its
transportation expenses associated with the production of timber products,
thereby creating additional efficiencies," stated Christopher Michaels, CEO of
Nevada Manhattan.
On a separate note, Nevada Manhattan confirmed that the Company's employment
agreement with Ignatius (Eddy) Theodorou has been terminated. Mr. Theodorou was
employed at the Company's Equatorial Resources subsidiary in Brazil. Sawmill
operations for the Company are now being managed by Mr. Geraldo Guidolini who
has over 20 years of hands-on experience in operating hardwood sawmills in the
Amazon Basin.
Nevada Manhattan Mining is a diversified, global natural resource company. In
addition to its substantial timber operations in Brazil, it also has significant
gold and coal concessions in Indonesia as well as gold mining operations in
Nevada. For more information on Nevada Manhattan Mining, contact Yvonne S.
Cambere at 818/591-4400, or fax 818/591-4411 or e-mail at
[email protected] or visit Nevada Manhattan Mining's website at
www.nevadamanhattan.com.
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EXHIBIT 99.2
. NEVADA MANHATTAN MINING INC. CONTRACTS WITH
METSA TIMBER FOR TIMBER DISTRIBUTION AND MANAGEMENT
CALABASAS, CA., March 11, 1998 - Nevada Manhattan Mining Inc. (OTC BB: NVMH) has
executed an agreement with Metsa Timber Ltd. Metsa Timber group is Europe's
leading sawmilling group with a 1997 production of 2 million cubic meters of
sawn timber in its 13 European units. Metsa Timber group reported net sales of
$525 million USD in 1997. Nevada Manhattan controls over 1.5 million acres of
hardwood timber forests in Brazil and is already in production.
According to the agreement, Nevada Manhattan has granted Metsa Timber the
distribution and sales rights for the output of timber and timber related
products of its Brazilian subsidiary, Equatorial Resources. Metsa Timber's
extensive marketing areas include the United Kingdom, France, Italy, Germany,
Denmark, The Netherlands, Japan, Greece, Northern Africa and Arab countries. The
agreement also provides Nevada Manhattan with management and development
assistance which will be provided through one of Metsa's sister subsidiaries,
FWI Wood International.
"This agreement should play a significant role in our strategy to propel the
Company to a level of increased cash flow by facilitating continued growth and
success of our timber operations," stated Jeffrey S. Kramer, COO of Nevada
Manhattan.
The agreement also expresses compliance with international guidelines for
sustainable forestry. In order to achieve this goal, Nevada Manhattan has
commenced a development project for an Eco-Efficiency Model through Eco Rating
International, Zurich, Switzerland to help insure that its timber harvesting and
milling operations in Brazil adhere to ecologically sound practices. Eco Rating
International is one of the private sector's environmental rating agencies
specializing in evaluating the environmental performance of a project, firm or
product through an in-depth analysis yielding a numerical score. Eco Rating
International has completed more than 50 evaluations in a variety of industries,
ranging from forestry to waste management.
The Metsa Timber Group is a division of the Metsaliitto Group which is one of
Europe's largest forest industry enterprises focusing on wood trading and forest
products manufacturing. The Metsaliitto Group reported net sales of $4.86
billion USD in 1997. It has manufacturing operations in Europe, and its products
are marketed worldwide.
Nevada Manhattan Mining Inc. is a diversified, environmentally responsible
global natural resource company. Its mission is to continue building an
international natural resource company by acquiring, developing and operating
rich resource assets, converting them to significant cash flow generators, thus
enhancing shareholder value. The Company may develop these assets on its own or
in conjunction with selected strategic partners.
For more information on Nevada Manhattan Mining, contact Yvonne S. Cambere at
818/591-4400, or fax 818/591-4411 or e-mail at
[email protected] or visit Nevada Manhattan Mining's website at
www.nevadamanhattan.com.
