Coronado Changes Name and Effectuates Reverse Split of Its Outstanding Common Shares.Business Editors LAS VEGAS--(BUSINESS WIRE)--July 24, 2002 Coronado Explorations Ltd. announced today that the company's corporate name has changed to Naturol Holdings Ltd. The company's new trading symbol Trading symbol See: Ticker symbol is "NTUH NTUH National Taiwan University Hospital ." Further, the company has effectuated a 1-for-5 reverse split of all of its issued and outstanding common stock as of the close of business on July 22, 2002. The name change and reverse split were approved by written consent of the majority stockholder of the company and notice was sent to stockholders of record as of June 24, 2002. Other items approved by the majority stockholder included the change in the company's reporting year-end to Dec. 31 for 2002, the approval of a stock option plan for 2 million shares of common stock, and the amendment and restatement Restatement A revision in a company's earlier financial statements. Notes: The need for restating financial figures can result from fraud, misrepresentation, or a simple clerical error. of the company's bylaws The rules and regulations enacted by an association or a corporation to provide a framework for its operation and management. Bylaws may specify the qualifications, rights, and liabilities of membership, and the powers, duties, and grounds for the dissolution of an . Readers are urged to review the company's Definitive Information Statement on Form 14C filed with the SEC on June 28, 2002, a copy of which is available on the SEC's Web site (www.sec.gov). Naturol Holdings Ltd, through it wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Naturol Inc., is dedicated to becoming a global leader in the commercialization of technology for the production of low-cost, high-quality extracts from natural materials. Naturol's proprietary technologies offer a more benign benign /be·nign/ (be-nin´) not malignant; not recurrent; favorable for recovery. be·nign adj. Of no danger to health, especially relating to a tumorous growth; not malignant. and cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. alternative to current extraction technologies for the production of quality extracts for use in the $2.4 billion U.S. market for plant-based pharmaceuticals, nutraceuticals, food additives food additives, substances added to foods by manufacturers to prevent spoilage or to enhance appearance, taste, texture, or nutritive value. By quantity, the most common food additives are flavorings, which include spices, vinegar, synthetic flavors, and, in the , flavors and fragrances. 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. : Except for historical information, the matters discussed in this press release contain forward-looking statements, which involve certain risks and uncertainties that could cause actual results to differ, including activities, events or developments that the company expects, believes or anticipates will or may occur in the future. A number of such statements are subject to assumptions, risks and uncertainties that could cause actual results to differ from those indicated in the forward-looking statements, including, but not limited to: any benefits of the corporate name change, the ability of the company to become a global leader in the extract industry, the benefits of the company's technology, the size of the U.S. extraction market, the competitive environment within the extraction industry, the company's ability to continue to successfully market and provide its technology, the continuation of the arrangements with the company's testing and development partners, the ability of the company to meet its financial projections, and general economic conditions. Readers are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statements. The company undertakes no obligation to publicly update or revise forward-looking statements whether as a result of new information or otherwise. |
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