VANCOUVER, B.C., Canada, Sept. 1, 2004 (PRIMEZONE) -- Darrell Cho, President and Director of Corporate Development Strategies Inc. (Pink Sheets:CDSJ), (the "Company") reports that the Company is progressing with its latest development strategies into acquisition of oil and gas producing properties. There are at least three potential properties in Canada and the US, which the Company is targeting to acquire. New Board of Directors will be appointed in the near future to strengthen the focus of the Company's project.
The Company is also aggressively negotiating with an investment-banking group to undertake the financing of the new acquisition as well as the distribution of the Company's press releases and all public relation matter. At a special meeting of the shareholders of the Company on August 27, 2004 (the "Meeting"), the shareholders of the Company resolved to consolidate the issued and outstanding shares of the Company on a 10 share for 1 share basis. The consolidation of the shares is subject to regulatory approval. If approved, the consolidation of shares of the Company will be effective Tuesday, September 7, 2004. Shareholders entitled to fractional shares as a result of the reverse split will have the fractional shares rounded up to the nearest whole share.
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from acquisitions or actions in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.