LUSTROS, INC. (OTCQB: LSTS) $0.68. Today announced that William Farley has accepted the position of Chairman and Chief Executive Officer.
Our current CEO, Gonzalo Troncoso, will remain as President. Making the announcement Mr. Troncoso said,“I am pleased to say that we are nearing completion of a copper sulfate processing facility, which will clearly give us a first class manufacturing capability. In addition, we have created an entirely new subsidiary, Mineraltus SA, to process tailings, which will allow us to expand our copper sulfate business significantly.
“We continue to strengthen our management team and are very pleased that Bill, as a major shareholder and investor, is joining the Lustros management team. Bill has extensive experience in manufacturing, mining, and finance and brings a wealth of knowledge and experience to our company. I, as President, will continue to be intimately involved in all our operations in Chile.”
Regarding his appointment, Bill Farley commented,“Having been a significant, early investor in Lustros, I am now pleased to be an active member of management. I am committed and motivated to complete the copper sulfate plant, begin production, and generate significant positive cash flow for the company.”
Mr. Farley is the sole shareholder of Liam Ventures, Inc., a private equity firm with investments in various industries including technology, communications, railroad, and basic industries. Mr. Farley is also CEO and owner of Zrii International in Salt Lake City, Utah, a liquid nutritional marketer. He served as chairman and chief executive officer of Farley, Inc. and Fruit of the Loom, Inc. from the time he acquired the company in 1986 through December 1999. During that time, he built FTL from a primarily domestic $500 million underwear company into a leading international manufacturer and marketer of basic family apparel with sales approximating $2.3 billion for the 1999 fiscal year. Fruit of the Loom was sold to Berkshire Hathaway Co. in 2002 for approximately $1 Billion.
What They Do: Lustros, Inc., through its Chilean subsidiaries, is in the business of copper mining and the manufacturing of food-grade copper sulfate. Lustros has a majority equity position in Sulfatos Chile S.A., which owns the Anica Copper Mines as well as a copper sulfate production project and employs a highly experienced staff of mining professionals.
Lustros, Inc.’s subsidiary Mineraltus SA is a Chilean corporation that will process tailings (waste products) of expired copper mines to secure the raw materials to manufacture high quality, feed-grade copper sulfate.
NetSpend (Nasdaq: NTSP) $12.29 and TSYS, Announced Tuesday after market close that they have entered into a definitive agreement pursuant to which TSYS will acquire NetSpend in an all cash transaction valued at approximately $1.4 billion. Under terms of the agreement, NetSpend shareholders will receive $16.00 in cash for each share of NetSpend common stock. TSYS expects the transaction to be accretive to GAAP EPS for the first 12 month period following closing, excluding one-time acquisition related fees and expenses.
What They Do: NetSpend is a leading provider of general-purpose reloadable prepaid debit cards and related financial services to the estimated 68 million underbanked consumers in the United States who do not have a traditional bank account or who rely on alternative financial services.
Rambus (Nasdaq: RMBS) $5.84. Today announced its updated evenue guidance for the quarter ending March 31, 2013. With the addition of a one-time payment license agreement, the Company revised its revenue guidance for the quarter to be between $65 million to $69 million. Rambus initially provided revenue guidance for the quarter in the range of $58 million to $63 million.
What They Do: Rambus is the innovative technology solutions company that brings invention to market.
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