American Uranium Approves 46:1 Share Consolidation
October 10 2008 - 9:16AM
Marketwired
American Uranium Corporation ("American" or "the Company") (OTCBB:
AUUM) announced today that its Board of Directors has approved the
consolidation of its shares on a 46:1 share basis. The Company will
proceed with all necessary filings to complete the reverse stock
split as soon as possible.
In light of discussions with potential investors and the state
of capital markets the Company's Board has concluded that if
American's share structure is not significantly revised the Company
might not be able to meet its goals for future equity participation
and financing.
AMERICAN URANIUM CORPORATION is a Nevada based uranium
exploration and development company, which is committed to spending
US $12.375 million to earn an initial 22.5% in the Pine Tree-Reno
Creek project ("the Project") and a total of US $33 million over 6
years to earn a 60% interest in the Project from Strathmore
Minerals Corporation.
Legal Notice regarding Forward Looking Statements
Statements in this news release that are not historical are
forward-looking statements. Forward-looking statements in this news
release include: that we will consolidate our shares, that this
will assist in meeting our goals for future equity participation
and financing and that we will spend funds to earn an interest in
Strathmore's properties.
It is important to note that the Company's actual outcomes may
differ materially from those statements contained in this press
release. Factors which may delay or prevent these forward looking
statements from being realized include that we may not be able to
keep our qualified personnel; that we may not be able to raise
sufficient funds to complete our intended exploration, purchase,
lease or option payments; that we are prevented for any reason from
consolidating our shares and that despite encouraging data there
may be no commercially exploitable mineralization on our
properties. Readers should refer to the risk disclosures outlined
in the Company's most recent Form 10-K and other periodic reports
filed from time to time with the Securities and Exchange
Commission.
Contacts: American Uranium Corporation Investor Relations (303)
634-2265 Email: info@americanuanium.com Website:
www.americanuraniumcorp.com