NSDM - North Star Diamonds Inc. announces spinoff of Ukraine interests
PR Newswire "US Press Releases "
BELLINGHAM, WA, Jan. 29 /PRNewswire-FirstCall/ - North Star Diamonds, Inc. (Pink Sheets: NSDM) North Star Diamonds Inc. is pleased to announce the spinoff of the interests in Ukraine to a wholly-owned subsidiary, Black Sea Minerals, Inc., incorporated in Nevada. The record date is set for February 9, 2007 and payment date of March 2, 2007. The ratio of distribution is 10 North Star Diamond Inc. shares for 1 share of Black Sea Minerals Inc. The share distribution on North Star Strategic Minerals, Inc. is now complete and shares of North Star Strategic Minerals Inc. in certificate form will be mailed upon confirmation of address. The North Star & Zale, Inc. spinout is in the final stages of completion. Presently, work is continuing on making these three entities into publicly traded companies.
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 North Star Diamonds Inc., and members of their 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 that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully 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.
CONTACT: Toll Free: 1-877-454-7872, or Email:
contact@northstardiamonds.net, Walter Stunder, President
SOURCE North Star Diamonds, Inc.
