West Africa Gold Inc. Announces Forward Split of Its Stock
May 07 2004 - 10:00AM
PR Newswire (US)
West Africa Gold Inc. Announces Forward Split of Its Stock Company
to Forward Split Shares on a 1 for 10 Basis NEW YORK, May 7
/PRNewswire-FirstCall/ -- West Africa Gold Inc. (BULLETIN BOARD:
WAGI) announced today that its Board of Directors has approved a
10-1 forward split of the Company's issued and outstanding shares.
The forward split will be effective Monday May 10, 2004. The stock
split will entitle each stockholder of record to receive nine
additional shares for every share of the Company's stock held at
the close of business on the record date of May 10, 2004. The new
shares will be registered on the books of the Corporation
maintained by Computershare Trust Company Inc at the opening of
business on May 10, 2004. About West Africa Gold Inc: West Africa
Gold Inc., http://www.westafricagold.com/, has acquired a 70%
interest in the Toubikoto (Gold), Manianguiti (Gold), In Darset
(Gold, Base Metals), Anefis (Gold, Base Metals) and Touban (Nickel,
Copper PGE's) mining properties. The properties are located in
diverse geographic locations throughout Mali. In aggregate, the
properties total over 500 square kilometers (approximately 193
square miles). The Geological Resource Evaluation on the properties
indicates a potential Inferred Geological Resource of at least
3,000,000 ounces of gold. The Company will continue to explore the
various rights and potential new targets. About Mali, West Africa
Mali is a landlocked country of 1,240,190 square kilometers
(approximately 478,835 square miles), which is roughly, double the
size of Texas, or five times the size of the United Kingdom. It
borders on Algeria to the north, Niger and Burkina Faso to the
east, Cote d'Ivoire and Guinea to the south, Senegal and Mauritania
to the west. During 2001, Mali produced approximately 1.7 million
ounces of gold at a cash cost less than US $160 per ounce. Mali is
thought to have in excess of 350 tons of recoverable gold and is
recognized as having enormous potential for further gold
discoveries. Mali is currently the third largest Gold producer in
Africa. Statements contained in this press release, which are not
historical facts, are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based largely on the Company's
expectations and are subject to a number of risks and uncertainties
beyond the Company's control, including but not limited to
economic, competitive and other factors affecting the Company's
operations, management team effectiveness, expansion strategies,
available financing, market prices and recovery costs, government
regulations involving the Company, facts and events not known at
the time of this release, and other factors discussed in the
Company's filings with the Securities and Exchange Commission.
These statements are not guarantees of future performance and
readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. The Company undertakes no obligation to update publicly
any forward-looking statements. This release was issued through
Major Newswire (http://www.majornewswire.com/) DATASOURCE: West
Africa Gold Inc. CONTACT: Equity Alliance International,
+1-858-459-3552, for West Africa Gold Inc. Web site:
http://www.majornewswire.com/ Web site:
http://www.westafricagold.com/
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