The Dojo

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GGRI .017 8k filed AS reduction by 2/3's
just took postion 017-018


On June 9, 2011, the Board of Directors and the shareholders holding a majority of the total issued and outstanding shares of common stock of Greenwood Gold Resources, Inc., a Nevada corporation, (the “Company”), approved a decrease in the authorized capital of the Company from one billion five hundred million (1,500,000,000) shares of common stock to four hundred million (400,000,000) shares of common stock, par value $0.001 (the “Decrease in Authorized Capital”). Therefore, on June 10, 2011, the Company filed an amendment to its articles of incorporation with the Nevada Secretary of State regarding the Decrease in Authorized Capital (the “Amendment”).

The Board of Directors considered certain factors regarding the Decrease in Authorized Capital including, among others, the following: (i) establishing a proper market value for the Company and its shares and increasing the potential marketability of it’s common stock; (ii) increasing the opportunities for the Company to engage in successful financing arrangements with a proper market cap; and (iii) no imminent future need for the issuance of additional shares of common stock of the Company.

The amendment will not affect the number of the Company’s issued and outstanding common shares.

http://ih.advfn.com/p.php?pid=nmona&article=48092672