Affinity Gold Corp. Announces Reduction in Authorized Common Shares
July 29 2009 - 10:29AM
PR Newswire (US)
MAPLE GROVE, Minn., July 29 /PRNewswire-FirstCall/ -- Affinity Gold
Corp. (OTC:AFYG) (BULLETIN BOARD: AFYG) (the "Company") is pleased
to announce a recent amendment to its Articles of Incorporation by
reducing the amount of authorized common shares. Effective July 23,
2009, the Company amended its Articles of Incorporation by reducing
its authorized capital of 2,700,000,000 shares of Common Stock with
a par value of $0.001 per share and 10,000,000 shares of Preferred
Stock with a par value of $0.001 per share to 250,000,000 shares of
Common Stock with a par value of $0.001 per share and 10,000,000
shares of Preferred Stock with a par value of $0.001 per share. The
issued and outstanding shares were not affected as a result of the
decrease in the authorized shares of Common Stock. On June 12,
2009, the Company's Board of Directors unanimously adopted
resolutions approving the amendment to the Articles of
Incorporation. In addition, on June 19, 2009, the holders of a
majority of the Company's issued and outstanding shares of common
stock approved the amendment to the Company's Articles of
Incorporation. Antonio Rotundo, CEO of the Company, stated "the
board felt this was a necessary action to improve the share
structure, encourage equity investment into the Company and
strengthen existing shareholders' investments in the Company."
About Affinity Gold Corp.: Affinity Gold Corp. is a mineral
exploration and development company engaged in the acquisition,
exploration and development of gold mineralization properties
internationally. Affinity Gold Corp.'s current primary focus is
gold exploration in Peru. http://www.affinitygold.com/
FORWARD-LOOKING STATEMENTS This news release may include
"forward-looking statements" regarding Affinity Gold Corp., and its
subsidiaries, business and project plans. Such forward-looking
statements are within the meaning of Section 27A of the Securities
Act of 1933, as amended, and section 21E of the United States
Securities and Exchange Act of 1934, as amended, and are intended
to be covered by the safe harbor created by such sections. Where
Affinity Gold Corp. expresses or implies an expectation or belief
as to future events or results, such expectation or belief is
believed to have a reasonable basis. However, forward-looking
statements are subject to risks, uncertainties and other factors,
which could cause actual results to differ materially from future
results expressed, projected or implied by such forward-looking
statements. Affinity Gold Corp. does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law. DATASOURCE: Affinity Gold Corp. CONTACT: Affinity
Gold Corp., +1-763-424-4754, Web Site: http://www.affinitygold.com/
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