Blindsquirrel I mean :
TORONTO, Jan 18, 2013 – Pacific Gold Corp. (OTCQB: PCFG) (Pinksheets: PCFG).
Pacific Gold Corp. (the "Company") announced today that, effective upon market open on January 22, 2013, every twenty shares of the Company's issued and outstanding Common Stock, par value $0.0000000001 (the "Common Stock"), will convert into one share of Common Stock (the "Reverse Stock Split"). Any fractional shares resulting from the Reverse Stock Split will be rounded up to the next whole share. As a result of the Reverse Stock Split, the total number of issued and outstanding shares of the Company's Common Stock will decrease from 3,867,674,530 pre-split shares to approximately 193,383,727 shares after giving effect to the Reverse Stock Split.
In addition, as part of the Reverse Stock Split, the Company will also be reducing its total number of authorized shares of common stock from 5,000,000,000 to 3,000,000,000 as approved by the Company's stockholders at last year's Annual Meeting.
