USCorp Prepares for S-1 Registration of Spinoffs
July 17 2013 - 8:30AM
Business Wire
USCorp (OTCMarkets: USCS.PK) today announced that on July 16,
2013, USCorp withdrew the Form 10 Registration Statements filed on
behalf of its subsidiaries, USMetals, Inc. and Imperial Metals,
Inc., pursuant to the Securities Exchange Act of 1934.
The Form 10 Registration Statements were filed in order to
complete the distribution of the common stock in the subsidiaries
to the stockholders of USCorp, with the intention to establish the
subsidiaries as independent public companies.
After consultation with the staff of the Securities and Exchange
Commission, USCorp determined that filing S-1 Registration
Statements pursuant to the Securities Act of 1933 will provide IPO
level disclosure information about the spinoffs to our shareholders
and the public.
USCorp intends to file and obtain the effectiveness of the S-1
Registration Statements as soon as possible. Because the shares of
Imperial Metals, Inc. and USMetals, Inc. will be registered for
sale by USCorp stockholders under the 33 Act, the Company expects
our shareholders will find it easier to deposit the common stock of
the subsidiaries into brokerage accounts upon effectiveness and the
distribution of the shares to our shareholders.
USCorp is an exploration stage company with gold and silver
projects in Arizona and California. Information about USCorp can be
found at the company’s website: http://uscorpgold.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: The statements contained in this release which
are not historical facts are forward-looking statements that are
subject to risks and uncertainties that could cause actual results
to differ materially from those set forth in or implied by
forward-looking statements. These risks and uncertainties include
the Company’s entry into new commercial businesses, the risk of
obtaining financing, recruiting and retaining qualified personnel,
and other risks described in the Company’s Securities and Exchange
Commission filings. The forward-looking statements in this press
release speak only as of the date hereof, and the Company disclaims
any obligation to provide updates, revisions or amendments to any
forward-looking statement to reflect changes in the Company’s
expectations or future results.
USCorpRobert Dultz, Chairman and
CEOrobert@uscorpgold.comorMartin E. Janis & Company,
Inc.Beverly Jedynak, 312-943-1123bjedynak@janispr.com
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