BELLINGHAM, Wash., Aug. 18, 2005 (PRIMEZONE) -- The management of Pinnacle Developments Inc. (Pink Sheets:PNCV) is pleased to announce that the company is having its financial statements audited in preparation for an SB2 filing for registration for shares and disclosure of financial information with the SEC and the NASD in September 2005.
The purpose of the filing is to have the company's shares trade on the OTC Bulletin Board, giving Pinnacle access to a broad investor base, including institutions. Pinnacle's management is excited about the current state of the global commodity markets and is considering a number of acquisitions that will be accretive to revenues and earnings in the short term and provide for significant growth in the future. The company is positioning itself to take advantage of the shrinking supply and increasing demand for wood fiber through the acquisition of existing operations throughout Canada, the U.S. and other developed wood manufacturing countries.
As of August 15, 2005 Pinnacle Developments Inc. had 29,574,123 common shares issued and outstanding; and 7,680,790 of these shares are free trading. Holladay Stock Transfer out of Dallas, TX is registered under the Exchange Act and is an SEC approved transfer agent for Pinnacle Developments Inc.
Please visit the company's website www.pinnacledevinc.com for further information.
Certain statements contained herein are "forward looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.