LAS VEGAS, Dec. 18, 2013 (GLOBE NEWSWIRE) -- FIGO Ventures, Inc. (formerly: AAA Energy, Inc.) (OTCBB:AAAED) announces the results of certain corporate actions, recent developments and the details of the Letter of Intent entered into on November 30, 2013 with CGM Resources Ltd., A New Brunswick Corporation.
Name Change and Reverse Split:
Via the consent of the majority shareholder of AAA Energy, Inc. the following actions took place.
1) Name Change to "FIGO Ventures, Inc.";
2) Reverse Stock Split of 1:25 (Shares outstanding: pre-split 84,272,000/ post-split 3,370,880).
The name change from AAA Energy, Inc. (AAAE) to "FIGO Ventures, Inc." and the 1-25 Reverse Stock Split was announced on 12/16/2013 by FINRA in its Daily List. These corporate actions took effect at the open of business on 12/17/2013. The new symbol will be AAAED. The D will be removed in 20 business days from 12/17/2013 and the new symbol will be FIGO.
Letter of Intent details:
On November 30, 2013, FIGO Ventures, Inc. entered into a Letter of Intent with CGM Resources Ltd., a New Brunswick Corporation. The LOI calls for FIGO to exchange 73,000,000 newly issued shares of FIGO Ventures, Inc. in exchange for 100% of the ownership equity of CGM Resources Ltd., This transaction is expected to close on or about February 28, 2014. After the transaction closes FIGO plans on becoming a current filer with the SEC.
About CGM Resources Ltd:
CGM Resources Limited is acquiring and exploring mineral properties with development potential in Colombia. Colombia is recognized as one of the most under-explored countries in the world, yet it is rich with deposits of gold, copper and silver. There is a high discovery potential within a pro-mining business atmosphere.
The Company has a pipeline of quality projects and a management team with in-country expertise. CGM's core purpose is to be a world leader in generating value through responsible mining. With experienced management and a sustainable growth profile.
Internationally, Colombia continues to gain favor among entrepreneurs as "the place to do business" as we move into the next decade. Due to recent history, there has long been a "Colombia discount" applied to the stocks of companies doing business there; however because of vastly improved and stabilized political and business environment this discount is rapidly becoming a premium.
The company feels that unlike other "flavor-of-the-day" plays, there is good reason to expect the Colombia Gold Rush to last-- the country is very rich in natural resources. Due to the stigma caused by the previous period of civil unrest in the Colombian countryside, Colombia has lacked exploration for decades, but now provides a contrarian entry for strong modern exploration companies.
|1) FIGO Ventures, Inc.|
|3273 E Warm Springs Rd.|
|Las Vegas, NV 89120|
|Cane Clark Agency, LLC|
|3273 E. Warm Springs, Rd.|
|Las Vegas, NV|
|3) Transfer agent:|
|Empire Stock Transfer|
|1859 Whitney Mesa Dr|
|Henderson, NV 89014|
|4) New CUSIP # 31683X106|
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Shiner International, Inc.'s current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Shiner's filings with the Securities and Exchange Commission. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release or in any document referred to in this news release.