July 22, 2011
HABER INC. HAS REACHED A SETTLEMENT OF ADMINISTRATIVE PROCEEDINGS WITH THE SEC, EXPLORES GUYANA OPPORTUNITIES, AND TERMINATES ALL ACTIVITIES IN ZIMBABWE AND GHANA.
Arlington, Mass., July 22, 2011 – Haber, Inc (“Haber”), (OTC: HABE), a Delaware corporation headquartered in Arlington, Mass., with proprietary technologies in the separations sciences and environmentally friendly processing of gold bearing ores, announced that it has reached a settlement with the SEC for failure to keep its financials current. Also the Company explores Guyana opportunities and terminates all activities in Zimbabwe and Ghana.
Albert Conti, the Company’s CEO, and Dan Dajie, the Company’s Chief Technical Officer, are planning to return to the Republic of Guyana in August 2011 to conduct various gold extraction and recovery demonstrations using Haber’s hydrometallurgical “green” gold recovery technologies on a number of ores from various mining companies in the country. These technology demonstrations are expected to be conducted in Georgetown at Guyana University for the benefit of the Government and certain private mining companies, and planning is underway for separate technology demonstrations to be conducted in the country’s interior for the benefit of small scale miners. It is expected that the Government’s assay laboratories of the Guyana Gold Mining Association will perform all assays and report on the results. Company management cannot give any assurance that the Company will be able to successfully enter into a mining venture in Guyana, or that any such venture will be profitable.
III. Termination of Zimbabwe Activities
The Company announces that the Haber Geobase Africa Minerals Company joint venture in Zimbabwe has been terminated because the Company’s joint venture partner, Geobase Minerals Inc., was unsuccessful in securing the necessary funding to begin operations in Zimbabwe as required under the terms of the joint venture agreement. Haber does not expect to seek or pursue additional opportunities in Zimbabwe unless and until the political climate in the country becomes more secure and predictable.
IV. Termination of Ghana Activities
The Company also announces that all project development activities in Ghana have been terminated, including the Company’s joint venture with Etruscan Resources Inc. Under the terms of the joint venture agreement, Etruscan conducted preliminary explorations of the Ghana concessions but the areas investigated did not show sufficient potential to warrant further evaluation, and Etruscan relinquished its 50% joint venture interest in the Ghana concessions to Haber. Haber has concluded, based on the initial exploration results and the significant financial maintenance requirements, that it was not prudent to continue holding the Ghana concessions, and the Company has therefore relinquished them. Unlike Zimbabwe, however, Haber remains interested in considering mining opportunities in Ghana, and intends to pursue suitable opportunities in the country when presented and as Company time and resources permit.
IV. Other Activities
The Company continues to receive significant interest in its “green” gold extraction and recovery technologies from a number of gold mining companies and individuals, who are at various stages of performing due diligence on the Companies technologies. In support of these due diligence efforts the Company is scheduling additional technology demonstrations on various supplied gold ore materials during July and August at the Company’s Massachusetts plant facility.
Haber, Inc. is a high technology process development company with proprietary technologies in extractive metallurgy and electrochemical separations. These technologies include the company's Haber Gold Process (HGP) and the Haber Electronic Scrap System (HESS), chemical systems for the hydrometallurgical extraction of gold from ores and electronic components. The Haber Gold Process is both non-toxic and more efficient than conventional solvents such as cyanide. This technology accelerates the gold extraction rate and may increase gold recovery from its ores by a substantial factor. The company's Electromolecular Propulsion (EMP) technology is an electrochemical process that enables the electrically controlled movement or positioning of a variety of different molecules. It is distinguished from the techniques of electrophoresis and chromatography by its wide variety of potential applications and the greater speed and control of the results. For more information, call Florence Tambone (781) 643-2727, or visit the company's web site at www.habercorp.com
Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions. These statements are subject to uncertainties and risks including, but not limited to, economic conditions, the impact of competition and pricing, government regulation, and other risks. All forward-looking statements made by or on behalf of the Company are qualified. The Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.