Toronto, Ontario--(Newsfile Corp. - January 31, 2012) - American Paramount Gold Corp. (OTCBB: APGA) (the "Company") announces that on November 16, 2011, the Company's board of directors approved a forty (40) for one (1) reverse stock split of our authorized and issued and outstanding common shares, such that the Company's authorized capital will be decreased from 150,000,000 shares of common stock to 3,750,000 shares of common stock with a par value of $0.001 and, correspondingly, the Company's issued and outstanding shares of common stock will be decreased from 64,500,000 shares of common stock to 1,612,500 shares of common stock, all with a par value of $0.001. No fractional shares will be issued and all fractional shares resulting from the reverse split will be rounded up.
On November 28, 2011, the Nevada Secretary of State accepted for filing a Certificate of Change, wherein the Company has effected an amendment to its Articles of Incorporation to decrease the authorized number of shares of our common stock from 150,000,000 to 3,750,000 shares of common stock, par value of $0.001. On November 29, 2011 the Nevada Secretary of State accepted for filing a Certificate of Correction, wherein the Company has effected an amendment to its Articles of Incorporation to correct the Certificate of Change filed on November 28, 2011 to state that no fractional shares shall be issued and that fractional shares shall be rounded up rather than rounded down, as previously stated.
On January 24, 2012, the Company received confirmation that the reverse split will become effective with the Over-the-Counter Bulletin Board at the opening of trading on January 26, 2012 under the symbol "APGAD". The "D" will be placed on our ticker symbol for 20 business days. After 20 business days, our symbol will revert back to the original symbol "APGA". Our new CUSIP number is 02882T 204.
For further information, please contact the Company's President, Hugh Aird at (416) 214-0049.
Forward Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of lithium prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Source: Indigenous Roots Corp.