Great West Gold, Inc. Declares a Stock Dividend Company Declares a 25% Stock Dividend to Reward Its Shareholders Great West Gold, Inc. (OTC BB: GWGO) announces that the Company has authorized a 25% (twenty-five percent) dividend of the Company's common stock for its shareholders of record as of Friday, July 29, 2005. The Stock Dividend Pay Date to shareholders will be shortly after that date.
The Company decided to reward those shareholders who had remained loyal to the Company despite the lengthy delay in the Company's filings and hoped that this dividend would offset some of the losses suffered by the Company's shareholders caused by the very substantial fall in the Company's share price in recent months.
The Company has agreed terms to acquire interests in another industry sector and this will result in the Company focusing on another business sector other than Gold Mining Exploration. Full details of these acquisitions will be announced in and during next week. Once completed, the Company will be focused on that Industry Sector and the Company's Mining Exploration interests held through its wholly owned subsidiary companies, Golden Sierra Limited and Western Gold Limited; will henceforth held through the Company's shareholding in both Windsor Resources, Inc. ("Windsor") and Sentinel Resources, Inc. ("Sentinel"). At such time as the Company's shareholdings in Windsor and Sentinel are distributed to the Company's shareholders as a dividend, the Company will no longer have an interest in the Mining Sector.
PROPOSED NAME AND TRADING SYMBOL CHANGE:
Upon the Company's completion of the acquisitions as above mentioned, the Company will then change its name and Trading Symbol.
MINING EXPLORATION INTERESTS:
BACKGROUND:
The Company has announced plans to dispose of its interests in the two Arizona Gold Mining Projects to two newly created companies, Windsor Resources, Inc. ("Windsor") and Sentinel Resources, Inc. ("Sentinel"). It was intended that both Windsor and Sentinel obtain funding to develop these projects independently of the Company and for the shares of both Windsor and Sentinel to be admitted for trading on the OTC Market; therefore, these two focused independent Gold Mining & Exploration companies would be better positioned to serve shareholder interests.
PLANS:
The Company is now in final negotiations to expedite the transactions in respect of both Windsor and Sentinel. If successful, it is the intention of the Company to distribute the majority of all of its shareholdings in Windsor and Sentinel to the Company's shareholders, and at such time as both Windsor and Sentinel are quoted on the OTC Market. The Company will announce the dates upon which shareholders will receive these shares of Common Stock in both Windsor and Sentinel, as a dividend.
The Mining Exploration business could only be financed through the creation of these two new companies, Windsor and Sentinel. The restructuring as set out in this announcement "unlocks" considerable value for the Company's shareholders as they retain shareholdings in the Company's mining interests and now will have an interest in another Industry Sector. This restructuring of the Company, the distribution of the Company's shares in Windsor and in Sentinel, coupled with this stock dividend, will result in a massive increase in shareholder value and a realization of the company's assets for its shareholders.
RATIONALE:
The Company has for some time recognized the fact that its dismal share price performance required a major corporate restructuring and to this end, the Company has examined countless possibilities to unlock value for its shareholders. The rationale was a "Reverse Split" of the Company's stock coupled with a financing of the Company would not be in the interests of shareholders
DISTRIBUTION (OR DIVIDEND) OF WINDSOR AND SENTINEL SHARES:
The Company wishes to stress that no restructuring (or Reverse Split) of its outstanding stock will take place until such time as the Company has concluded the transactions in respect of both Windsor and Sentinel. The Company stands by its promise that shareholders will not be diluted further through a Reverse Split of its Stock without a significant unlocking of value for shareholders. Any shareholders, who have acquired shares in the Company through the Company's proposed acquisitions (in another Industry Sector) as aforesaid, will not be eligible to receive these "dividend shares" in both Windsor and Sentinel nor will they will be eligible for this stock dividend.
ST JAMES CAPITAL HOLDINGS, INC. -- SUPPORT & LOAN NOTE:
St James Capital Holdings, Inc. ("St James"), www.stjcapital.com, which holds a Loan Note from the Company in the amount of US$1,500,000 and holds approximately 10% of the outstanding Common Stock of the Company, is assisting in these transactions and has agreed not to demand a conversion of this Loan into Common Stock of the Company at this time. The President of St James Capital, Stephen Lumb, today pledged his support for the Company and for its rewarding of its shareholders through this very innovative corporate restructuring and stock dividends to its shareholders. Stephen Lumb confirmed that St James was very satisfied with its position as a substantial shareholder in the Company and in its position as the principal Loan Note holder of the company. Stephen Lumb has stated that, "St James and the shareholders of Great West Gold, Inc. have been well rewarded by this Company's initiatives and have every confidence in the future of this Company and for that of its offspring Mining Companies."
About Great West Gold, Inc.
Great West Gold, Inc. (www.greatwestgold.com) is a gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in Arizona.
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.
im in for a little,
-------------------- WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?
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company has well over 8 billion shares out, they anounced in a recent PR they would not dilute, now they anounce a 25% "dividend" witch will effectively ADD over 2 BILLION shares to the float! sounds like a little slight of hand action to me! -------------------------------------------------------------------------------- .....does this one have the potential to hit .005? -------------------------------------------------------------------------------- IMHO- no! company MAY HAVE had some potential assets but they plan to spin those off as (worthless?) divies sometime in the future. as of now they have NO assets and no clear buisness plan!. you may try playing momentem or a short small run-up, but seems like a VERY risky hold.use your best judgement and do some DD. good luck! this may work out but frankly i dont see it.
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honestly it would be tough cause of shares in market,im in for a little like 500 to see where it takes us,value could be in new stock im gonna recieve,wich might be different numbers as a/s,o/s and pps,but i wanna see whats gonna happen,thats why i only went 500,if you are funded with about that then i would only put in 5-10$ of what your total balance is,if you have 500,then dont put it all in it,if your interested,pyut like 50 in it,understand.
-------------------- WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?
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remember==you must own the stock by the end of business on the 26th or you will not get the divy==then the stock will tumble==just ask the unqt people
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The Company is now in final negotiations to expedite the transactions in respect of both Windsor and Sentinel. If successful, it is the intention of the Company to distribute the majority of all of its shareholdings in Windsor and Sentinel to the Company's shareholders, and at such time as both Windsor and Sentinel are quoted on the OTC Market. The Company will announce the dates upon which shareholders will receive these shares of Common Stock in both Windsor and Sentinel, as a dividend.
read closer!
-------------------- WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?
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DISTRIBUTION (OR DIVIDEND) OF WINDSOR AND SENTINEL SHARES:-
The Company wishes to stress that no restructuring (or Reverse Split) of its outstanding stock will take place UNTIL such time as the Company has concluded the transactions in respect of both Windsor and Sentinel. The Company stands by its promise that shareholders will not be diluted further without a significant unlocking of value for themselves. Any shareholders who have acquired shares in the Company through the Company's proposed acquisitions (in another Industry Sector) as aforesaid, will not be eligible to receive these "dividend shares" in both Windsor and Sentinel. --------------------------------------- what about this part cap!, foward split sounds like restructuring to me!,2 billion shares added to the float ( no dilution?) and remember 2 TRILLION shares authorized! roll the dice?
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not trying to ruffle any feathers, just pointing out apparent inconsistancies. this is up nearly 100% from last week! sentinal and windsor are thier centerpiece properties. could be a very good thing for investors, if those two divies are distributed based on shares owned then this F/S could be a windfall for investors who by in by the divy date. good luck and happy trading!
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quote:Originally posted by madmoney: not trying to ruffle any feathers, just pointing out apparent inconsistancies. this is up nearly 100% from last week! sentinal and windsor are thier centerpiece properties. could be a very good thing for investors, if those two divies are distributed based on shares owned then this F/S could be a windfall for investors who by in by the divy date. good luck and happy trading!
tHATS QWHAT IM KINDA SAYING,AND THATS ALSO why i say dont throw big money into it,
-------------------- WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?
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i would have to say that if this thing stays in this range it would be well worth it to hold until after the dividend date......long term
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...if this thing stays at these levels till end of friday....there shouldn't be too bad of a sell-off would there?(on mon.) ....i think that this stock does have long-term potential.......why would the MM's squeeze the shorts out if there was no Value here?
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NEW YORK, Aug 24, 2005 (M2 PRESSWIRE via COMTEX) -- Great West Gold, Inc. (OTC BB:GWGO) confirms that it will be filing its quarterly report (Form 10 QSB) for the period ended June 30, 2005 on Thursday August 25, 2005.
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