Black Dragon Resources Announces New Stock Symbol and Corporate Restructure.AUSTIN, Texas -- Black Dragon dragon, mythical beast usually represented as a huge, winged, fire-breathing reptile. For centuries the dragon has been prominent in the folklore of many peoples; thus, its physical characteristics vary greatly and include combinations of numerous animals. Resources (Pink Sheets:BDGR.PK) announced today that the Board of Directors has approved a 500 to 1 reverse stock split. In addition, a name change to Black Dragon Resource Companies is effective immediately. Along with the reverse stock split, the company is now trading under the symbol BDGR.PK. Management stated that a special shareholders meeting was called and the majority of the shareholders voted in favor of upon the side of; favorable to; for the advantage of. See also: favor the 500 to 1 reverse stock split due to the trading price Trading price The price at which a security is currently selling. of the stock. Without the reverse stock split, funding possibilities for future acquisitions were limited without major dilution Dilution A reduction in earnings per share of common stock that occurs through the issuance of additional shares or the conversion of convertible securities. Notes: Adding to the number of shares outstanding reduces the value of holdings of existing shareholders. to the shareholders. The Company emphasized that since the stock split has become effective, Black Dragon Resource Companies has entered into a Letter of Intent to acquire a percentage of 100 oil and gas wells from a private party. Black Dragon Resource Companies also announced that Mr. Richard Michaels, Esquire has joined the management team. Mr. Michaels has an extensive securities background in the oil and gas industry and is based in Austin, Texas. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Black Dragon Resource Companies has included in this press release certain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Black Dragon Resource Companies business, operations and financial condition. The words or phrases "can be," "expects," "may affect," "anticipates," "may depend," "believes," "estimates," "plans," "projects" and similar words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. are intended to identify such forward-looking statements. These forward-looking statements are subject to various known and unknown risks and uncertainties and Black Dragon Resource Companies cautions you that any forward-looking information provided by or on behalf of Black Dragon Resource Companies is not a guarantee of future results, performance or achievements. Actual results could differ materially from those anticipated in these forward-looking statements due to a number of factors, some of which are beyond Black Dragon Resource Companies control. In addition to those risks discussed in Black Dragon Resource Companies other press releases, public filings and statements by Black Dragon Resource Companies management, factors that may cause Black Dragon Resource Companies actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied in such forward-looking statements include: the volatile and competitive nature of the oil and gas industry, changes in domestic and foreign economic, political and market conditions, the effect of federal, state and foreign regulation on Black Dragon Resource Companies business, the impact of recent and future acquisitions and joint ventures on business and financial condition, and results of operations and financial condition. All such forward-looking statements are current only as of the date on which such statements were made. Black Dragon Resource Companies does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date on which any such statement is made or to reflect the occurrence of unanticipated events. |
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