LOS ANGELES, April 13, 2006 (PRIMEZONE) -- Magnum d'Or Resources Inc. (the "Company") (OTCBB:MAGR) today announced that its 1-for-40 reverse stock split of its outstanding common stock will be effective on Monday morning April 24, 2006.
As a result of the reverse stock split, the number of its shares of its current outstanding common stock will be reduced from 199,667,370 shares to approximately 4,991,684 shares of outstanding common stock.
In connection with the reverse stock split, the Corporation is authorized to provide special treatment to certain stockholders of the Corporation whose common shares were obtained before March 13, 2006, in order to preserve round lot holders (i.e., holders owning at least 100 shares) after the reverse split.
Any other terms and conditions of special treatment to be afforded to stockholders to preserve round lot stockholders, and determining which stockholders may be eligible for such special treatment, will be determined by the Board of Directors.
Shareholders of Magnum d'Or Resources, Inc. are not being requested to exchange their stock certificates for new certificates regarding the reverse stock split.
A number of statements contained in this press release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing. The actual results that Magnum may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.