TORONTO, Sept. 22, 2004 (PRIMEZONE) -- Osprey Gold Corp. ("Osprey") (OTCBB:OSGL) today announced the Company's intention to consolidate its issued and outstanding common shares on a basis of one (1) new share for five (5) old shares. In accordance with the by-laws of the Company and Nevada Revised Statutes (NRS) 78.2055, approval of the consolidation has been received from shareholders holding a majority of the Company's issued and outstanding common stock. Record date for the consolidation is October 22, 2004.
Osprey Gold Corp. specializes in acquiring and consolidating large advanced exploration-stage properties with near-term production potential and future growth through exploration discoveries. Its acquisition and development emphasis is focused on properties containing gold and other strategic minerals located in Canada. Osprey holds interests in exploration properties located in the province of Ontario.
This press release includes statements which may constitute "forward-looking statements". These statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. These factors, include, without limitation, future trends in mining prices, the availability of capital for development in the mining sector, competitive factors and other risks detailed in the Company's periodic filings with the Securities and Exchange Commission.