CWRN: B.O.D Extends 90 Day Freeze on Issuing Free Trading Shares
13 August 2009 - 10:30PM
Marketwired
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) announced
today that the Board of Directors by consent resolution extended
its freeze on issuing new free trading shares for another 90 day
period. The total number of free trading shares has remained at
299,304,162 since May of 2009. The unannounced action resolution
was put into force in May, pending the success of a negotiation
involving the execution of an agreement with a buyer - financier
for the Baja Pacific Iron Mining Project. Since the Company
completed its exploration activities in Baja California in late
2008, the Company has reduced its general and administrative cost
to a bare minimum and has reserved its cash in response to the
down-turn in the steel industry. The recent surge in the China
Seaborne Trade has been a welcomed sign of improved market
conditions for the iron ore trade and has brought with it the
renewed optimism for the successful start-up of the Baja Pacific
Iron Mining Project. It is most certain that the Company will begin
preproduction activities at the Baja Pacific N0.14 magnetite iron
mineral reserve before the end of September, 2009. The purpose of
the freeze on issuing new free trading shares is to eliminate any
further dilution of the Company's stock, keeping it at the current
level and letting the market settle the value of the Company once a
revenue stream is generated; this also will insure that no reverse
split of the Company's stock will be executed as the Company moves
forward.
"Free Trading Shares of CWRN as of August 13, 2009"
Issued and Free Trading Shares : 299,304,162
About Cotton & Western Mining, Inc.
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) was founded
in early 2005 as a Nevada Corporation by Robert L. Cotton, with a
specific plan and goal in mind; that being, to operate a low cost
and high profit junior "Iron Mineral Mining" company. For more
information, please visit the company's website at
www.cottonwestern.com.
Safe Harbor: Statements regarding financial matters in this
press release other than historical facts are "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934, and as
that term is defined in the Private Securities Litigation Reform
Act of 1995. The Company intends that such statements about the
Company's future expectations, including future revenues and
earnings, technology efficacy and all other forward-looking
statements be subject to the Safe Harbors created thereby. The
Company is a development stage firm that continues to be dependent
upon outside capital to sustain its existence. Since these
statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the Company's
actual results may differ materially from expected results.
Contact: e-media Direct, Inc. Investor Relations (866)284-2835
info@e-mediadirect.com
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