LAS VEGAS, March 16, 2005 (PRIMEZONE) -- Future Quest Inc. (Pink Sheets:FQIFF) has announced today that it has effectuated a one-for-20 Reverse Stock Split. Pursuant to this reverse stock split, shareholders will receive one share of common stock for every 20 shares of common stock held of record. Any fractional shares resulting from this reverse split will be rounded up to the next whole share. Approved by Future Quest Board of Directors on March 9, 2005, this share consolidation becomes effective today.
Additionally, Future Quest announces a name change to Future Quest Nevada, Inc. (Pink Sheets:FQNI). The name change also becoming effective today and the stock is now trading under FQNI. The company is now a Nevada Corporation.
This news release contains information that is "forward-looking" in that it describes events and conditions, which Future Quest Nevada Inc. ("FQNI") reasonably expects to occur in the future. Expectations for the future performance of the business of FQNI are dependent upon a number of factors, and there can be no assurance that FQNI will achieve the results as contemplated herein and there can be no assurance that FQNI will be able to conduct its operations or production from its properties will result from or continue as contemplated herein. Certain statements contained in this report using the terms "may," "expects to," and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, which are beyond the Company's ability to predict, or control and which may cause actual results to differ materially from the projections or estimates contained herein. FQNI disclaims any obligation to update any forward-looking statement made herein.