LIMA, Peru, May 10, 2012 (GLOBE NEWSWIRE) -- The Graystone Company (OTCQB:GYST), announced today that its 1:400 reverse stock split of the Company's Class A Common Stock will be effective May 14, 2012. All Class A common shares issued and outstanding as of March 27, 2012 will be subjected to the reverse. The Company's shares will trade under the symbol "GYSTD" with a "D" added for 20 trading days to signify that the reverse stock split has occurred. A new CUSIP number has been assigned to the Company's common stock as a result of the reverse split.
The reverse split will reduce the total number of shares of the Company's common stock outstanding from approximately 191,352,500 to 478,382 shares.
Company stockholders will receive one new share of Class A common stock for every 400 shares held. The Company will round up any fractional shares. Stockholders with shares in brokerage accounts can contact their brokers. Cleartrust will act as the exchange agent and can be contacted at (813) 235-4490.
Additional details related to the reverse stock split may be obtained from the Company's Proxy Statement that was filed with the SEC on April 24, 2012. A copy of the Proxy Statement is available at www.graystone1.com under Investor Info.
About The Graystone Company. The Graystone Company, Inc. is a U.S.-based mining and exploration company focused on acquiring and developing gold and other mineral properties. The Company's strategy is to build value for shareholders by the identification, acquisition and exploration of early-stage properties that show significant potential for the discovery of gold.
The Graystone Company, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12842
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.