DALLAS, Jan 09, 2013 (BUSINESS WIRE) -- DGSE Companies, Inc. (nyse mkt:DGSE) announced today that its board has approved the transfer of 5,000,000 options owned by NTR Metals, LLC ("NTR") to Elemetal, LLC ("Elemetal"). These options have a strike price of $15 per share and were contributed by NTR to Elemetal in exchange for ownership units in Elemetal. The options were originally issued to NTR in October of 2011.
NTR announced on January 7 that it had also contributed 4,393,142 shares of its DGSE common stock to Elemetal in exchange for Elemetal ownership units.
Elemetal is a global precious metals conglomerate based in Dallas, Texas. Its principal holdings include OPM Metals(TM), NTR Metals(R), Echo Environmental(TM), and DGSE Companies, Inc.
"We are very excited to broaden our relationship with the Elemetal family of companies," stated Jim Vierling, DGSE's CEO, President and Chairman of the Board. "NTR Metals is a terrific supplier, customer and refiner for DGSE, and we're excited about what the future will hold as we become better able to leverage the resources of OPM Metals and Echo Environmental."
NTR Metals operates a worldwide network of over 70 precious metals processing locations in 12 countries. It serves more than 25,000 companies, ranging from small, independent businesses to large corporations.
OPM Metals is the largest American refiner of "good delivery" gold and silver, and has earned SCS Global Services certifications for Certified Responsible Source Gold and Silver, and 100% Recycled Gold and Silver Content.
Echo Environmental is a large-scale processor of hazardous and non-hazardous precious metal-bearing industrial byproducts. In 2012, Echo Environmental processed over 30 million pounds of these byproducts.
DGSE Companies, Inc. wholesales and retails jewelry, diamonds, fine watches, and precious metal bullion and rare coin products through its Bullion Express, Charleston Gold & Diamond Exchange, Dallas Gold & Silver Exchange, and Southern Bullion Coin & Jewelry operations. DGSE also owns Fairchild International, Inc., one of the largest vintage watch wholesalers in the country. In addition to its retail facilities in Alabama, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee and Texas, the Company operates internet websites which can be accessed at www.bullionexpress.com , www.dgse.com , www.cgdeinc.com , and www.sbcoin.com . Real-time price quotations and real-time order execution in precious metals are provided on another DGSE website at www.USBullionExchange.com . Wholesale customers can access the full vintage watch inventory through the restricted site at www.FairchildWatches.com .
The Company is headquartered in Dallas, Texas and its common stock trades on NYSE MKT Exchange under the symbol "DGSE."
This press release includes statements which may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.