TORONTO, Oct. 4, 2011 /PRNewswire/ - Bryn Resources Inc.
(PINK: BRYN) is pleased to announce that in addition to the
cancellation of 59,000,000 restricted shares announcement
(http://www.brynresources.com/wp/index.php/2011/08/bryn-resources-inc-cancels-59000000-restricted-shares/)
it has further reduced another 4,500,000 restricted shares. The
cancellation will reduce the overall outstanding shares to
51,266,260.
Bryn Resources Inc. previously identified 1 (one) shareholder,
Bastille Advisors Inc, that will have an equity position of greater
than 10% in effect restricting these shares. With this further
reduction, shareholder Baywaters Inc will also have an equity
position greater than 10%. This will in effect reduce the company's
float by an additional 5.2 Million shares to 13,504,817.
Bryn Resources Inc. continues to work on the Nova Scotia properties towards an initial
property assessment report as planned. Further updates will be
provided to its shareholders shortly.
About Bryn Resources Inc.
Bryn Resources is a precious metals exploration company currently
concentrating its efforts in eastern Canada. Bryn presently holds a 100%
working interest in the Renfrew Property situated in Hants County,
Nova Scotia comprised of 62 Claims
covering approximately 2,480 acres, as well as a 100% working
interest in the Wine Harbour property located in Wine Harbour,
Nova Scotia. The Wine Harbour
claims have historically demonstrated their mineralization and in
the period between 1862 and 1939 are reported to have produced
42,726 ounces of gold from 83,000 tons of ore, for an average
content of 0.52 ounces per ton.
This press release contains forward-looking statements that
reflect the Company's current expectation regarding future events.
Actual events could differ materially and substantially from those
projected herein and depend on a number of factors. Certain
statements in this release, and other written or oral statements
made by Bryn Resources Inc. are "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors,
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities.
SOURCE Bryn Resources