Cotton & Western Mining, Inc. CWRN Reorganizes Equity and Announces 6:1 Stock Dividend
October 31st, 2008 | by mantrionline |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.
