Green Star Energies, Inc. Announces Approval of Reverse Stock Split and Name Change
(firmenpresse) - DALLAS, TX -- (Marketwire) -- 12/08/11 -- Green Star Energies, Inc. (PINKSHEETS: GSRED) is an oil and gas company focused on acquiring and developing under-producing fields in Texas and surrounding states.
On September 19, 2011, the Company held a Special Meeting of Stockholders to approve the adoption of the Company's Restated Certificate of Incorporation to increase the authorized common stock to 12,000,000 shares. A quorum was present and this proposal was approved by 97.4% of the shareholders who voted. Simultaneously, the Board of Directors voted to reduce the amount of common stock authorized to 12,000,000 through a 1,000-to-one reverse stock split. The reverse split has been approved by regulatory agencies and will be effective on December 8, 2011. The new symbol on this date will be GSRED and will remain so for 20 business days including the effective date.
The Board also has approved a name change for the corporation. The corporation's new name is Rock Ridge Resources, Inc. The company anticipates changing the trading symbol after the 20 day period to reflect the new name and has requested regulatory approval for a new symbol.
Steve Rackley, CEO, commented, "These corporate actions reflect our determination to further position Rock Ridge Resources for raising capital and enhancing our market appeal to institutional investors, in order to create value for our current and future shareholders. We look forward to making additional announcements in the very near future."
For additional information, visit the company's website at .
ABOUT ROCK RIDGE RESOURCES, INC.
Rock Ridge Resources, Inc. is currently targeting acquisitions or joint ventures in existing oil and gas fields that have produced in the past. Additional information about the company may be found on the company website at .
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Rock Ridge Resources, Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Rock Ridge Resources, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
Rock Ridge Resources, Inc.
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Phone: 1-972-677-7690
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Datum: 08.12.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 1064103
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