Grand Pacaraima Gold Corp. Orders NOBO List to Reveal Suspected Substantial Short Position
November 28 2007 - 6:00AM
Marketwired
LONDON management has ordered a current Non Objecting Beneficial
Owners list (NOBO list) from Broadridge, Inc. The NOBO list shows a
more complete and comprehensive shareholder profile than is
typically available on a shareholder list provided by the transfer
agent. In addition, management is ordering reports from the
Depository Trust Corporation (DTC) for further examination. Both
lists will be utilized to uncover possible short positions. Company
management suspects that the substantial short position exists and
was increased after the recent issuance dividend of stock to Modern
Energy Corporation shareholders. The NOBO list will be used to
determine the naked short positions in Grand Pacaraima Gold Corp.
common stock. The NOBO list will be compared to the reports from
the DTC which contains data regarding all brokers and amounts of
shares being held for investors. These lists will be used to get a
total amount of shares owned by all shareholders and any naked
short positions.
The company would like to advise its shareholders to ensure
their accounts have not lent out their stock without the
shareholder's knowledge and consent. Shareholders are also advised
to ask their brokers' compliance departments if any part of their
stock position has been loaned to potential short sellers.
Our corporate advisors and legal parties have agreed that we
must take action against suspected naked short selling of its or
anyone's securities in the marketplace. The company will take all
necessary action to protect its shareholders' investments.
About Grand Pacaraima Gold Corp.
Gas and Oil Operations in Oklahoma
Through an 80% owned subsidiary, Grand Pacaraima has an
operating interest in two wells on 640 acres of a productive oil
and gas area in Oklahoma, not far from the Texas border. The
property includes the Chester Zone, which is well known in the
Oklahoma-Texas region for its gas reserves.
Legal Notice Regarding Forward-Looking Statements
The statements in the press release that relate to the company's
expectations with regard to the future impact on the company's
results from acquisitions or actions in development are
forward-looking statements, within the meaning of the Private
Securities Litigation Reform Act of 1995. The statements in this
document may also contain "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Since this information
may contain statements that involve risk and uncertainties and are
subject to change at any time, the company's actual results may
differ materially from expected results.
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