Great West Gold, Inc. -- Forward Stock Split Company to Effect a 2 for 1 Forward Split of Its Common Stock
NEW YORK, Jan. 30, 2007 (PRIME NEWSWIRE) -- Great West Gold, Inc. (Pink Sheets:GWGO) confirms that the Company authorized a 2 for 1 Forward Split of the Company's Common Stock.
This Forward Split is effective from February 8, 2007 and that will serve as the "Record Date". The Company has filed Notice of this action with the NASD.
This Stock Dividend will be electronically credited to stockholders brokerage accounts shortly after the "Record Date," being February 13, 2007. Those stockholders who are not holding their stockholding with their Brokers or hold restricted shares of the Company's Common Stock, will receive their Stock Dividends in certificated form, to be held by "on book" by the Company's Transfer Agent.
The rationale for this Forward Split of the Company's Stock is that the stock price could not be trading at a lower price than it is at this time, and this action will effectively result in a 100% increase in stockholder value, as from February 8, 2007.
The new President of the Company, Mr Pete Bezzano commented that after reviewing the numerous stockholder communications in respect of the stock price, it was decided to provide immediate relief to stockholders through this Forward Split of the Company's Common Stock.
About Great West Gold, Inc.
Great West Gold, Inc., www.greatwestgold.com, a gold mining exploration stage company, engaged in the acquisition and exploration of mining properties in the United States. The Company has Gold assets through its holdings in "Bouse," "Mockingbird," "Ambassador," "Yaba," "Golden Eagle," "Bonanza," "Storm Cloud," "Starlight," "Venezia," "Federal," "Buffalo Lime Cap," "Red Cloud," "South Copperstone" and "Gladstone Lookout" Gold Mining Projects. The Company's Copper assets are "Copper Mountain," "Swansea," "Tip Top" and "Mineral Mountain." The Company holds five of these Mining Assets through its 51% holding in Bouse Mining Holdings plc, Copperstone Mining Holdings plc, Ambassador Gold Holdings plc, Golden Eagle Mining Holdings plc and in Sentinel Resource Holdings plc. The other Mining Exploration Projects are 100% controlled by the Company.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.