SBRX NEWS:
Stonebridge Resources Explorations Ltd. Appoints New Secretary Treasurer - Announces Reverse Split
THORNHILL, ON -- (Marketwire) -- 02/27/09 -- Stonebridge Resources Explorations Ltd.
(PINKSHEETS: SBRX) (FRANKFURT: S3C) board of directors has provided the following corporate update.
The company has appointed Mr. Patrick Webb as the company's new secretary treasurer effective immediately. Mr. Webb brings several years of administrative and management expertise to the corporation and will be an integral addition to the Stonebridge management team.
Company CEO Sidney Lederman and the board of directors have temporarily postponed the decision to acquire 50% interest in mineral lease claims for gold and silver exploration in the State of Nevada. The May 16, 2008 press release should have stated that the agreement was pending and had not yet been concluded. The company continues to negotiate this agreement with the intent of concluding the acquisition after due diligence is complete.
Stonebridge Resources Explorations Ltd. board of directors has approved a reverse split of the company's common shares at a 1 for 1000 ratio. As a result of the reverse split, every one thousand shares of outstanding common stock will be changed into one share of common stock. All fractional shares shall be rounded up to the nearest whole number. The company transfer agent is in the process of completing all necessary regulatory requirements and expects the reverse split to be in effect by March 15, 2009. Stonebridge shareholders of record are not required to surrender their existing share certificates. Should you have any questions regarding the issuing of certificates please contact:
Capital Transfer Agency Ltd. 390 Bay Street, Suite 2020
Toronto, ON M5H 2Y2
Tel: 416-350-5007
Fax: 416-350-5008
info@capitaltransferagency.com
Management will continue to provide shareholders with periodic updates as the company proceeds with its restructuring and new focus for the future.
About SBRX
Stonebridge Resources Explorations Ltd. is primarily engaged in the acquisition and development of mining explorations in Nevada and other viable opportunities throughout the United States and South America. Our mission is to create shareholder value by achieving growth through robust acquisition and exploration programs and low-cost production.
Forward-Looking Statements
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
Contact:
Stonebridge Resources Explorations Ltd.
President
Mr. Sidney Liderman
Email: corpir@otcsbrx.com
