TORONTO, Oct. 11, 2005 (PRIMEZONE) -- Stonebridge Resources Explorations Ltd. (Pink Sheets:SBGX) today announced that the Board of Directors and shareholders have approved a reverse stock split of one common share for every 1,000 common shares held. There will be no change in the par value of such shares. The reverse stock split will be effective October 24, 2005.
Shareholders will be asked to mail their current certificates to the company's transfer agent to process the consolidation.
Stonebridge Resources Explorations Ltd.'s strategy is to become a respected leader in exploration and development in the resource and mining sector. The company's primary objective is to acquire properties of merit, primarily in North America. The company's focus is:
Precious metal (gold, silver and platinum properties) Base metal (copper, zinc, cobalt and nickel properties) Strategic metal (uranium and palladium properties)
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long-term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions, changes in the political situation in the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with regulatory authorities.