PRMX to expand cash-for-gold recycling program

Precious Metals Exchange Corp. (PRMX) announced the Company has hired Jacob Miles as a consultant to focus on strategy and marketing. Miles has also been nominated to the Company’s board of directors and is a former senior executive of both the General Mills® and Tonka/Hasbro® Corporations. Miles also previously served as a divisional director of General Mills and The United Way Foundation.

Garrett Vogel, president and director of Precious Metals Exchange Corp., stated, “In his new position, Jacob will be responsible for executing a successful Go-To-Market strategy and branding of the CashOutMyGold direct response national internet and television marketing campaigns.”

Mr. Miles remarked, “We are in an exciting new era in the precious metals recycling sector. Recycling old gold from jewelry and other items that contain the precious metal is a literal gold mine estimated at $4 billion annually in the United States alone. The ‘Cash for Gold’ by mail-in business model has already proven itself as a viable means of generating substantial revenues with use of direct response television marketing along with the internet, which has opened up a global market that has accepted this method and business model for selling gold as credible. The largest competitor in this market space has already proven that the mail-in business model can generate revenues of several hundred million annually for a single company. We believe that CashOutMyGold.com can become not only a serious competitor but a leader in the space. Demand for gold is out performing traditional gold mining by 59 percent at present; recycling gold from old and broken jewelry will become the new standard for mining gold and PRMX is at the forefront of this trend.”