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Great West Gold, Inc. - Further Stock Dividends
Friday March 3, 7:33 am ET
NEW YORK, N.Y.--(BUSINESS WIRE)--March 3, 2006--Great West Gold, Inc. (OTCBB:GWGO - News) confirms that it has acquired the "Treasure King" Gold Mining Project and the "Yaba" Gold Mining Project in Yavapai County, Arizona.
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Great West Gold, Inc. is planning (in and during March of 2006) to dispose of its shareholding in each of these two companies acquired today, to two recently incorporated United Kingdom Holding Companies.
Shareholders will be advised as to the "Record Dates" and the "Pay Dates" for these additional Stock Dividends to be paid to Great West Gold, Inc. shareholders.
Great West Gold, Inc. will be seeking an admittance of these two new United Kingdom Gold Mining Holding Companies to an OTC Market in the United Kingdom Stock Exchange. These Companies will be then immediately thereafter applying for admission to the OTC Pink Sheets Market as a "Foreign Issuer". The Company will have to obtain a CUSIP Number, ISIN Number and Trading Symbol for its quotation on the OTC Pink Sheets Market and will still file an Information Statement as well as its Financial Statements with the OTC Pink Sheets Market under Rule 15c-211. These two Companies will be admitted to the OTC Pink Sheets Market through the "Unsolicited Trade" Rule.
These two Companies will then institute an American Depositary Receipt ("ADR") Level I Programme. This ADR will have an ISIN Number, CUSIP Number and Trading Symbol and will be admitted for trading on the OTC Pink Sheets Market through the "Unsolicited Trade" Rule.
Shareholders in Great West Gold, Inc. that will hold Ordinary Shares in these two new Companies will be in a position to trade their shares in London on the "third tier" Stock Exchange as well as on the OTC Pink Sheets Market in the form of Ordinary Shares and in the form of ADR's. This provides huge arbitrage opportunities for shareholders and speculators in shares. Shareholders in these Companies will have the right to convert all or part of their shareholding in these Companies into ADR's, should they so wish.
London is now the Global centre of Mining and the ability of Ambassador Gold Holdings plc to raise significant funding will be hugely increased. The strong currency of the Pound Sterling compared to the US Dollar will be of huge benefit to our shareholders.
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's
expectations and are subject to a number of risks and uncertainties beyond the company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.
These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.
Contact:
Great West Gold, Inc.
+ 44 845 127 4051
investor@greatwestgold.com
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AI
