DENVER, May 25, 2005 (PRIMEZONE) -- Capital Hill Gold, Inc. (OTCBB:CHGI) today announced a stock dividend on its common stock for shareholders of record at the close of business on May 31, 2005. Each holder of one share of Capital Hill Gold on the record date shall be entitled to receive three 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. The payment date for the common stock dividend is set for June 7, 2005.
The purpose of the stock dividend is to provide to shareholders improved liquidity in Capital Gold's common stock. Under Internal Revenue Code Section 305(a), the receipt of the stock dividend will not result in the imposition of U.S. 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 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.
This press release contains statements which may constitute "forward-looking statements" 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 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 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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