Canadian investors
Since we are on a roll here - care to address who the Canadian Investors are that you initially funded? Thanks
June 26, 2007 - 8:15 AM EST
Perihelion Global Forming Canadian Subsidiary to Be Listed on Canada's CNQ Stock Exchange
Perihelion Global, Inc. (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced that it is forming a Canadian subsidiary to be listed on Canada's CNQ Stock Exchange (http://www.cnq.ca).
The formation of the subsidiary will result in a dividend for shareholders of Perihelion Global. For every five (5) shares of PHGI owned on the record date of July 2, 2007, shareholders will receive one (1) share of the Canadian subsidiary. It is expected these shares will be 'free-trading' on the CNQ Stock Exchange.
The new subsidiary will engage in the exploration of precious metal and mineral properties in Canada, and will initially make an acquisition in the uranium camp in the Otish region in the Province of Quebec in the near future. The property will meet the guidelines of National Instrument 43-101; a rule developed by Canadian Securities Administrators (CSA) administered by the provincial securities commissions that govern how issuers disclose scientific and technical information about mineral projects to the public.
Perihelion Global has sourced initial funding of $500,000-$800,000 for its Canadian subsidiary with a group of Canadian investors. Shareholders are advised that the formation of the Canadian subsidiary and the subsequent stock dividend will in no way replace, impede or delay Perihelion Global from completing its previously announced acquisition of an NASDAQ OTCBB-listed shell company under the formal Letter of Intent executed June 12, 2007.
Management believes that existing and future shareholders will now have an opportunity to participate in three unique publicly held companies with their current holdings of Perihelion Global; The future NASDAQ OTC:BB entity, the Canadian-listed subsidiary and the Pinksheet-listed entity that will include the FCC-licensed broadcast radio stations.
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