COUER D'ALENE, Idaho,
Dec. 8, 2011 /PRNewswire/
-- Star Gold Corp. (OTC Markets: SRGZ). The
Company recently received approval from its board of directors and
shareholders to engage in a 1:6 reverse common stock split.
Pursuant to the reverse split, holders of Star Gold common stock, as of November 30, 2011 (the "Record Date"), will
receive one (1) share of Star Gold
common stock in exchange for every six (6) shares of Star Gold common stock held by the shareholder
on the Record Date (the "Reverse Split"). Following the
execution of the Reverse Split the number of issued and outstanding
shares of Star Gold common stock
shall be reduced from 63,260,000 to approximately
10,543,333.
"The Board action allows for the Company to position itself
favorably within the capital market. As Star Gold Corp.'s
strategic plan is enacted, the Company will look to debt and equity
markets for capital," said Star Gold President Lindsay Gorrill.
The Reverse Split will not be effective until the Company files
a Schedule 14C with the Securities and Exchange Commission ("SEC"),
clears SEC comment on the 14C and the Financial Industry Regulatory
Authority ("FINRA") approves of the Reverse Split.
Investor Contact
Kelly Stopher
208-664-5066
info@stargoldcorp.com
About Star Gold Corp. Star Gold Corp. is a gold
exploration company with the purpose of acquiring, evaluating and
developing gold projects of merit with a focus on the United
States, Canada and Mexico. At present, Star
Gold is focused on the exploration and development of its
Excalibur Project and Longstreet Project, in Nevada,
USA. For more information please
visit www.stargoldcorp.com.
Disclaimer
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by the use of words such as "anticipate,"
"believe," "expect," "future," "may," "will," "would," "should,"
"plan," "projected," "intend," and similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of Star Gold Corp. (the Company) to be
materially different from those expressed or implied by such
forward-looking statements. The Company's future operating results
are dependent upon many factors, including but not limited to the
Company's ability to: (i) obtain sufficient capital or a strategic
business arrangement to fund its expansion plans; (ii) build the
management and human resources and infrastructure necessary to
support the growth of its business; (iii) competitive factors and
developments beyond the Company's control; and (iv) other risk
factors discussed in the Company's periodic filings with the
Securities and Exchange Commission, which are available for review
at www.sec.gov under "Search for Company Filings."
SOURCE Star Gold Corp.