NUGL, Inc. (NUGL)

[mick]

here is reduction in A/S stuff.The Blackhawk Fund Reduces the Authorized Common Shares



February 26, 2008 - 9:03 AM EST
CARDIFF, Calif., Feb. 26 /PRNewswire-FirstCall/ -- The Blackhawk Fund (OTC Bulletin Board: BHWF), is pleased to announce the reduction of 1 Billion authorized shares of The Company's common stock. In an effort to deliver shareholder appreciation, The Board of Directors unanimously voted in favor of reducing The Company's authorized shares from 4 Billion to 3 Billion shares. Out of the remaining authorized common shares, The Company's majority shareholder controls the equivalent of 2 Billion shares as Preferred B stock, which are affiliate restricted shares that cannot be sold into the market. This leaves less than 1 Billion common shares authorized that, if issued, can actually trade in the market.

The Company will take further steps to consider the reduction of Preferred B shares, which will be necessary for additional reductions of The Company's authorized common stock. The Company has taken these steps to recapitalize The Company in a manner that will yield price appreciation as The Company's business grows. The Blackhawk Fund has recently announced the launch of a nationwide radio program that should provide additional revenue to The Company in proportion to the increased coverage that has been contracted through the radio program.

From time to time, the Company may issue news releases that contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be 'forward-looking statements.' 'Forward-looking statements' are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.

http://WWW.BLACKHAWKFUND.COM

Investor Relations
760-434-9300

SOURCE The Blackhawk Fund



Source: PR Newswire (February 26, 2008 - 9:03 AM EST)

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