Capital Hill Declared Stock Dividend; Defined.DENVER -- Capital Hill Gold, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CHGI) explains further detail about the stock dividend on its common stock. Each holder of one share of Capital Hill Gold on the record date shall be entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to receive three (3) additional shares of common stock. For example, if a holder owns a round lot of 100 shares he or she shall receive 300 additional shares. Persons who purchase CHGI common stock on the Nasdaq OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. on or before June 7, 2005 will receive the stock dividend. The record date for shareholders who own the shares in their name is at the close of business on May 31, 2005. The payment date for the common stock dividend is set for June 7, 2005. On the opening of business on June 8, 2005, the common stock will trade ex dividend. The stock dividend should be credited to the shareholder's account within a few days of June 7, depending on their broker's procedures. Persons who purchase shares on or after June 8 will not be entitled to receive the dividend and the stock price will be adjusted for the stock dividend. The purpose of the stock dividend is to provide to shareholders improved liquidity in Capital Gold's common stock. Under Internal Revenue Code The Internal Revenue Code is the body of law that codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco, and employment taxes. These laws constitute title 26 of the U.S. Code (26 U.S.C.A. § 1 et seq. Section 305(a), the receipt of the stock dividend will not result in the imposition of US federal income taxes. Shareholders will only need to adjust their tax basis in their shares on a pro-rata basis. About The Company Capital Hill Gold's strategic objective is to obtain controlling interests controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in properties with excellent exploration potential to become economically significant to world-class ore deposits. CHGI intends to acquire mineral exploration properties primarily through the filing of concessions on its own account and in partnership as well as by optioning exceptional properties at reasonable costs relative to the property's potential and the financial capabilities of the company. On behalf of Capital Hill Gold, Inc. Dan Enright Daniel Enright (August 30, 1917 - May 22, 1992) was one of the most successful game show producers in American television. Enright worked with Jack Barry from the 1940s until Barry's death in 1984. They were partners in creating programs for radio and television. , President This press release contains statements that may constitute "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 Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by 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. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation Fluctuation A price or interest rate change. of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. |
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