Cotton & Western Mining, Inc. -- CWRN Reorganizes Equity and Announces 6:1 Stock Dividend
October 30 2008 - 9:45AM
Marketwired
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) -- Robert L.
Cotton, President of Cotton & Western Mining, Inc., announced
today that the majority shareholders and the Board of Directors has
finalized reorganization of equity and that the Board of Directors
has approved a 6 for 1 stock dividend of the Company's common
stock. Each shareholder of record at the close of business on
November 20, 2008 will receive five (5) additional restricted
shares for every outstanding share held as of the date thereof. The
payment date for the additional shares will be November 30, 2008,
with distribution of the new shares to also occur on or about
November 30, 2008. Shareholders will be credited automatically by
the company's transfer agent, and shareholders will have their
certificates sent directly to them by the transfer agent.
The authorized common shares of CRWN is 6,000,000,000. Of the
6,000,000,000 authorized, 100,000 CRWN Series A super voting
Preferred shares have been authorized and 100,000 are presently
issued and outstanding to three control shareholders.
The CWRN new CUSIP number is - 221737 307 and the reorganization
of its common stock was a 480:1 reverse split. All CWRN
shareholders of Record Date as above will receive dividend share
(s).
The Board of Directors believes that this action will increase
shareholder value and create more trading liquidity. The stock
consolidation will not change shareholders' existing proportionate
ownership.
Related Business:
The Company has completed draft agreements with a Chinese steel
mill for all of its Baja California, Mexico Iron Ore Production.
Due to the current oversupply of iron ore stocks in China and a
general down-turn in the steel industry; the agreements will not be
executed until annual fixed priced agreements for year 2009 are
negotiated by the Chinese Steel Manufacturers Association. The
Company expects that all agreements will be finalized in January
2009 with expected production to begin by June of 2009.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: Except for historical information, the
forward-looking matters discussed in this news release are subject
to certain risks and uncertainties which could cause the Company's
actual results and financial condition to differ materially from
those anticipated by the forward-looking statements including, but
not limited to, the Company's liquidity and the ability to obtain
financing, the timing of regulatory approvals, uncertainties
related to corporate partners or third-parties, product liability,
the dependence on third parties for manufacturing and marketing,
patent risk, copyright risk, competition, and the early stage of
products being marketed or under development, as well as other
risks indicated from time to time in the Company's filings with the
Securities and Exchange Commission. The Company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events.
Contact: Cotton & Western Mining, Inc. 363 North Sam Houston
Parkway East Suite 1100 Houston, Texas 77060 USA
www.cottonwestern.com +1(281)820-7815
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