Capital Hill Declared Stock Dividend; Defined
May 31 2005 - 3:57PM
Business Wire
Capital Hill Gold, Inc. (OTCBB:CHGI) explains further detail about
the stock dividend on its common stock. Each holder of one share of
Capital Hill Gold on the record date shall be entitled to receive
three (3) additional shares of common stock. For example, if a
holder owns a round lot of 100 shares he or she shall receive 300
additional shares. Persons who purchase CHGI common stock on the
Nasdaq OTC Bulletin Board on or before June 7, 2005 will receive
the stock dividend. The record date for shareholders who own the
shares in their name is at the close of business on May 31, 2005.
The payment date for the common stock dividend is set for June 7,
2005. On the opening of business on June 8, 2005, the common stock
will trade ex dividend. The stock dividend should be credited to
the shareholder's account within a few days of June 7, depending on
their broker's procedures. Persons who purchase shares on or after
June 8 will not be entitled to receive the dividend and the stock
price will be adjusted for the stock dividend. The purpose of the
stock dividend is to provide to shareholders improved liquidity in
Capital Gold's common stock. Under Internal Revenue Code Section
305(a), the receipt of the stock dividend will not result in the
imposition of US federal income taxes. Shareholders will only need
to adjust their tax basis in their shares on a pro-rata basis.
About The Company Capital Hill Gold's strategic objective is to
obtain controlling interests in properties with excellent
exploration potential to become economically significant to
world-class ore deposits. CHGI intends to acquire mineral
exploration properties primarily through the filing of concessions
on its own account and in partnership as well as by optioning
exceptional properties at reasonable costs relative to the
property's potential and the financial capabilities of the company.
On behalf of Capital Hill Gold, Inc. Dan Enright, President This
press release contains statements that may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Prospective
investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those contemplated by such forward-looking statements. Important
factors currently known to management that could cause actual
results to differ materially from those in forward-looking
statements include fluctuation of operating results, the ability to
compete successfully and the ability to complete before-mentioned
transactions. The company undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operating results.
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