JACKSONVILLE, Fla., June 19, 2007 (PRIME NEWSWIRE) -- Mariner's Choice International Inc. (Pink Sheets:MCII) has conferred with its legal counsel and NASD to further clarify the consolidation of Status Wines of Tuscany (Pink Sheets:SWNE) common stock convertible into Mariner's Choice International Inc.
As previously reported, the majority shareholders of SWNE ratified the 500:1 reverse split on May 7, 2007.
In an email communication received from NASD dated Wednesday, June 13, 2007, it was stated:
"...Trading of this security was on a pre-split/pre-name change basis until our effective date on 6/4/2007... All trading in the marketplace through the close of business of 6/3/2007 was on a pre-split basis...."
Further discussion with NASD was held on Friday, June 15, 2007, to confirm that the Ex-Date, therefore, is the closing of business on June 3, 2007, and MCII took effect as at the opening of business on June 4, 2007. From June 4th onward, market activities under MCII are on a 1:1 basis.
Forward-Looking Statements
Certain statements contained in the above, are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.