Golden Age Resources Inc., GDAR, Board of Directors Announces No Reverse Split in 2015
PALM BEACH GARDENS, FL – GOLDEN AGE RESOURCES, INC., (OTC PINK: GDAR)
Golden Age Resources, one of the leading acquisition and development companies, announced today that in a meeting of the Board of Directors (“Board”) held Monday, August 10, 2015, it had agreed to defer any consideration of a reverse split of the Company’s common stock until at the earliest January 2016.
Turn-around specialist Mr. Terence Byrne, CEO of Golden Age Resources said, “Even though the Company has verbalized that there won’t be a reverse split through December 31, 2015, several shareholders have expressed concern that in the remainder of the year the Board could vote to reverse split the common stock because of the amount of shares issued and outstanding. The shareholders concern is that a reverse split could negatively impact the value of the stock owned. Because of this concern, the Board decided that in the interest of helping to maintain investor confidence that it would publicly state that it wouldn’t authorize any reverse split in 2015.” He continued, “The Board also knows that the ongoing efforts to further grow the Company, will help build the value of our common stock throughout the remainder of the year. We believe we do not need to reverse split our stock to have its value increase. We can accomplish this by demonstrating the growth of the Company.”
The Company also is firmly on track to complete the due diligence process of the planned acquisitions of two different media companies that will result in a definitive merger agreement. These new acquisitions continue to allow the Company to increase revenues and assets that will increase shareholder value in the near future. Current management projections expect to see overall revenue from the acquisitions to increase to $5 million per year.
The management team of the Company is continuing the bold transition in creating shareholder value in their current acquisition endeavors. The Board has the upmost confidence that these new pursuits of existing opportunities and relationships will continue to increase shareholder value.
About Golden Age Resources, Inc.:
GDAR, organized as a Nevada Company, provides project development; medium and long-term finance solutions and investments into high growth industries that build shareholder value over a long period of time.
Forward Looking Statements: This press release contains “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 and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward looking statements. You should consider these factors in evaluating the statements herein and not rely on such statements. The forward looking statements in this release are made as of the date hereof and Golden Age Resources, Inc. undertakes no obligation to update such statements.
Contact: Investor Relations
Mr. Dave Donlin
Source: Golden Age Resources, Inc.
7711 N. Military Trail
Palm Beach Gardens, FL 33410