PALM DESERT, Calif., Feb. 24, 2009 (GLOBE NEWSWIRE) -- U.S. Mine Makers, Inc., (Pink Sheets:USMM) announces that the Board of Directors has authorized a reverse split of its common stock at the direction of its shareholders.
Description of Split: The issued common stock of the Company is to be reverse split at a rate of 1-for-25. The split shall become effective at the opening of business on Monday, March 2, 2009. All fractions caused as a result of the split will be rounded down and the Board of Directors has determined that $.05 will be paid in lieu of fractions upon receipt of a written request of the Company received at its offices located at: 74090 El Paseo, Suite 205, Palm Desert, CA 92260.
About U.S. Mine Makers, Inc.
U.S. Mine Makers, Inc. is a mining and exploration company using 'eco-friendly' technology to recover precious metals such as gold and platinum group metals from high grade ore concentrate and rock. Besides its precious metals mining operations, the company also prides itself as an 'eco-friendly' mine restoration company that uses its own modern technology to clean up toxic mine sites. The company motto is, "We Clean the Planet -- One Mine Site at a Time." U.S. Mine Makers, Inc. has executive offices in Palm Desert, California and maintains a web site at: www.usminemakers.com.
This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of U.S. Mine Makers, Inc., and members of management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. These risks and uncertainties include, among other things, volatility of commodity prices, speculative nature of mineral exploration and development and the Company's ability to expand. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.