Dr. Robert J. Michet Appointed President & CEO of TWDL Board Votes One-for-One Forward Split
LAS VEGAS, Dec. 8, 2011 /PRNewswire/ -- Texas Wyoming Drilling OTC: TWDL today announced the resignation of President & CEO Alfredo V. Navarro, Sr. who is retiring after a long and successful career in the mining arena.
The Board of Directors has appointed Dr. Robert J. Michet as President and CEO. Dr. Michet has had a successful dental practice in Chicago for 30 years and has been a TWDL board member for the past four years.
As their first resolution under Dr. Michet's management, the Board of Directors approved a one-for-one forward split which effectively doubles the amount of stock held by each shareholder. The application for approval of this split was submitted to FINRA on December 6, 2011. It is scheduled to become effective January 23, 2012 subject to final approval by FINRA.
The additional shares will be given to all owners including purchasers on the effective date. All shares held in street name will be automatically deposited to the shareholders account. Anyone with restricted shares will be required to call Pacific Stock Transfer at (702) 361-3033 and request a certificate for their additional shares.
There will be no immediate change in equity for shareholders. The Board of Directors has based its decision upon a desire to increase liquidity and as a way to reward shareholders. This is, of course, dependent upon the Company's success and increase of the price per share. The Company continues to aggressively pursue the mining of gold and precious metals and financing for its own processing plant.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the securities Act of 1933 and Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Texas Wyoming Drilling, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
Media and Investor Relations Contact:
Phone: (415) 342-1779
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