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ZANN Corp Announces 3:1 Forward Split
Monday April 25, 12:15 pm ET
FENTON, Mich.--(BUSINESS WIRE)--April 25, 2005--ZANN Corp. (OTCBB:ZANC - News) announced today that Zann Corp is doing a 3:1 forward stock split of its common shares. The Company will be issuing 3 common shares for each common share held on the record date of May 2, 2005. The effective date of the split will be May 3, 2005. The shareholder is required to submit a certificate in order take advantage of this split. Shares acquired up to and on April 27, 2005 would be eligible to receive the split shares.
According to Robert C Simpson - CEO, "The forward split should benefit our shareholders in several ways. One of the most important factors is the certificate exchange, which should help us to identify the magnitude of the short position we believe exists in our stock. Additionally, this split will help us by creating a larger number of legitimate shares as we move out of the development phase into the production and growth phase of our business."
Simpson went on to say, "We are continuing to work on a licensing agreement for Sartam Industries products. When an agreement is reached, appropriate notification will be given. A completed agreement will give us a third family of products to produce and distribute."
ABOUT ZANN CORP
ZANN Corp. manages four wholly owned business units (two of these are in the development stage) with scalable technologies and plans to acquire a fifth this year. This diverse range of high quality, high value products and services are aimed at profitable niche markets. For additional information please visit the corporate website at: www.zanncorp.com
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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Contact:
ZANN Corp.
Investor Relations, 810-714-2098
ir@zanncorp.com
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Source: ZANN Corp.
