HOUSTON--(BUSINESS WIRE)--Algae Farm (USA), Inc. (Pink Sheets: ALGF), announces that its Board of Directors has approved a 11 for 10 forward stock split revalued for its common stock only. The effective date is open of business June 30, 2011. Fractional Shares will be rounded up and shares are payable upon surrender of old certificates to the Company’s Transfer Agent, Pacific Stock Transfer Company. A “D” will be placed on the ticker symbol for 20 business days. After 20 business days, the symbol will revert back to the original symbol, ALGF.
ALGF divested its 63 Payday and Rage Uranium Mining Claims located in Utah to Colorado Goldfields, Inc. in an all stock transaction consisting of 125,000,000 shares of 1-year restricted Class A Common Stock and 125,000,000 shares of 2-year restricted Class A Common Stock.
About Algae Farm (USA)
ALGF is a development stage renewable energy technology company. The Company is pursuing development and commercialization of algae and algal biomass production technology. The Company’s website is www.algaefarm.org, the contents of which are not incorporated by reference herein.
Safe Harbor
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 (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company and all affiliated parties do not assume any duty to publicly update or revise the material contained herein.