PATERSON, NJ., August 24, 2006 - Bogue International, Inc. (PINKSHEETS:BGUE ) is pleased to announce it has agreed to acquire a 50% equity interest in JAB Mexico, Inc., a wholly owned subsidiary of Diversified Mineral Group, Inc. of Houston, Texas. JAB Mexico, Inc., a Florida corporation, owns a 90% interest in Tierra Rica de Minerales, a Mexican corporation, which owns mining concessions known as the Monclova Coal Property in Mexico's northeastern state of Coahuila.
Bogue International will purchase the interest outright for $500,000 USD and 5,000,000 common shares of the company. Closing of this transaction is subject to normal due diligence and board approval which is expected within 30 days.
"Closing our acquisition with JAB Mexico is a very significant achievement for our company," commented Charles Irizarry, President of Bogue International, Inc. " We are extremely excited with Monclova's potential and believes it will have a major impact on the company's growth."
About Bogue International
Bogue International, Inc., formerly Bogue Electric Manufacturing Co., was incorporated in 1892 and a public company since 1945. The company is focused on acquiring operating companies with world class potential that will increase shareholder value.
Safe Harbor Statement:
Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.
For further information, please contact:
Charles Irizarry, President 1100, Mellon Financial Centre 1111 Brickell Avenue Miami, Florida 33131 305-913-3434