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Great West Gold, Inc. - Material Correction to Announcement Monday December 19, 1:10 pm ET
Company Corrects a Material Error in Its Previous Announcement
NEW YORK, NY--(MARKET WIRE)--Dec 19, 2005 -- December 19, 2005, Great West Gold, Inc. (OTC BB:GWGO.OB - News) announced today that shareholders are seeing a share price of US$0.0007 compared to a Total Stock Dividend payout in the amount of US$0.018 for every 1,000 shares of Great West Gold, Inc. Common Stock and that excludes the value of the Company's 71.43% shareholding in Western Diversified Mining Resources, Inc.
The value of these Stock Dividend distributions to Great West Gold, Inc. shareholders is US$0.018 for every one Great West Gold, Inc. share of Common Stock and is not for every 1,000 shares of Great West Gold, Inc. shares of Common Stock as stated in the previous Announcement.
The Company apologises to its shareholders for this error.
ADVERTISEMENT Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.
These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.
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This means that for every share of GWGO that you buy between now and JAN 4TH, you will receive 19 Ordinary Shares in Golden Eagle Mining Holdings plc, valued at £1.90 (US$3.37). This calculation is based upon the outstanding Stock in Great West Gold, Inc. being in the amount of 47,727,193,220 shares of Common Stock as at January 4, 2006.
Basically Great West Gold Inc. (GWTO) aquired 5 POTENTIAL gold mines. They do not have the funds to develop and mine them (barring massive dilution) so they will dispose of the aquisitions and they will become 5 separate companies. Shares for the 5 companies will be given as dividend to all GWTO shareholders. This is a value of .018 per share of GWTO!!!!
From what I gathered the companies want to become pinks but to avoid a long listing wait on the pink sheets GWTO will dispose of the 5 aquisitions to various "holding companies" in the United Kingdom. The holding companies will be registered on the London OTC exchange and will be able to trade on the Pink SHeets through "Unsolicitated Trade".
After the share dividends are distributed all shareholders will be able to trade their shares unrestricted on either the American Pink SHeet market or the London OTC ecxhange!!
This thing should be a gold mine!!!!(no pun intended)
All I know about the potential gold mines is that only 2 of them are proven to contain gold.
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What exactly does that mean tech1? I am new to this. From what I gathered from their PR's, If you had 1 million shares of GWGO early enough to receive all five dividends, then you would receive shares valued at 18.57 for every 1,000 shares of GWGO that you hold. Is this correct or am I missing something?
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You're right, bug. But, for some reason, this stock never gets any attention on Allstocks. I have no idea why though.
I am in this, and have been for several months, so I will be getting all the dividends and shares. Actually, I don't know what I'll get, because the PRs are always kind of confusing. Oh well, it's cheap anyway.
Good luck.
-------------------- I have taken a vow of poverty, so if you want to irritate me, send money.
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Thanks. I just got into pennies a couple of months ago and GWGO was one of my first purchases. I also got in early enough to receive all of the dividends and shares. And, like you said, it's cheap.
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