TORONTO, June 20, 2005 (PRIMEZONE) -- Dunwynn Resources, Inc. (Pink Sheets:DWNR) announced that Dunwynn Resources Inc. will be renamed Dunwynn Exploration, Inc., along with a new ticker symbol effective June 24, 2005.
The Board of Directors has agreed to a reverse stock split of one (1) common share for every five hundred (500) common shares of all beneficial Common Stock and Class N Stock shareholders of record, to be effective as of June 24, 2005. Fractional shares will not be issued, but will be rounded down to the next whole share.
The Board of the Directors also has agreed to dividend out 2,500,000 shares of its wholly owned subsidiary Dunwynn Resources Corporation to all beneficial Common Stock and Class N Stock shareholders of record, on a pro-rated basis, as of June 24th, 2005. The share dividend comprises of 25% of the shares owned by Dunwynn Resources, Inc. Fractional shares will not be issued, but will be rounded down to the next whole share. New issued shares will not be DTC eligible and all beneficial shareholders will receive shares.
Shareholders of Dunwynn Resources Inc. should contact their brokers about the reverse split and the dividend. Existing certificates must be returned to receive new certificates for the name change and reverse split, and that the dividend shares will be sent along with the new certificates.
Furthermore, the Board of Directors approved a new Transfer Agent effective June 17, 2005:
Capital Transfer Agency Inc. Suite 2020 - 390 Bay Street Toronto, Ontario M5H 2Y2
Capital Transfer Agency Inc. provides services to clients listed on the TSX-V, CNQ, NYSE, AMEX, Nasdaq, OTCBB, Pink Sheets, as well as privately operated companies. For more information, contact Lisa Mehta at (416) 350-5007 or info@capitaltransferagency.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
ON BEHALF OF THE BOARD of Dunwynn Resources, Inc.