NEW YORK, NY -- (Marketwire) -- 05/10/11 -- Alto Group Holdings, Inc. (OTCBB: ALTO) ('Alto Group' or the 'Company'), an innovative mining and commodities trade company headquartered in New York, announces the formation and ownership of 51% the subsidiary Alto Cascade Resources Inc.
This new subsidiary has been formed to conduct exploration and the development of mineral rights within the state of Washington domestically in the United States. Management recently canceled plans to begin testing on a site located within California called Horse Shoe Bar which was a placer gold project and alternatively shifted focus on working hard rock gold-silver deposits within areas believed to have a minimum of over 1 million ounce gold resource potential. Permitting within areas such as California have become increasingly more difficult to navigate and after careful consideration the President and CEO Mr. Mark Daniel Klok has moved to consolidated additional gold mining claims within the state of Washington.
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Notice Regarding Forward-Looking Statements
This news release contains 'forward-looking statements' as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
Alto Group Holdings, Inc.
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Mark Daniel Klok
President and CEO
Alto Group Holdings Inc.
245 Park Ave - 24th Floor
New York, NY 10167