SEATTLE, Sept. 7, 2007 (PRIME NEWSWIRE) -- Worldwide Energy Corp. (Pink Sheets:WWEG) announces reorganization and restructuring of the common stock. For every 7,421,956 share of common voting stock of the corporation of the par value of $.001 each issued and outstanding of the corporation, and it hereby is, reclassified and changed into 1 fully paid and non-assessable share of common stock on the corporation having a par value of $.001 each.
This reclassification shall occur as of September 7th, 2007. The new name of the company will be changed to Czech Republic Resource Corp., the company has a working agreement with Sanaka, a.s. to acquire control of the corporation.
Sanaka, a.s., is a Czech mining and resource company that is in possession of significant mineral resources, as there are Rubidium, Lithium and Caesium.
Therefore the necessity of restructuring of the stock is necessary in order to secure financing for the venture. The company will still maintain its oil and gas leases in Louisiana.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.