US Farms, Inc. Announces New Symbol and Reverse Split
2008-07-17 15:25:00
SAN DIEGO, CA–(EMWNews – July 17, 2008) – US Farms, Inc. (
commercial Farming and Nursery company, announced today that effective
Friday, July 18, 2008, its new quotation symbol on the Over-the-Counter
Bulletin Board will be USFM as a result of a 1-for 25 reverse split of its
common stock. The Board of Directors approved the 1-for-25 reverse split of
its common stock on June 30, 2008. Pursuant to the reverse split, holders
of the Company’s common stock are deemed to hold one (1) post-split share
of the Company’s common stock for every twenty-five (25) shares of the
Company’s issued and outstanding common stock as classified immediately
prior to the close of business on the Effective Date. No fractional shares
of the Company’s common stock will be issued in connection
with the reverse split.
Yan Skwara, CEO of US Farms, Inc., stated, “This reverse stock split is a
part of our continued strategy to move the company in a forward direction.
Management believes this new capital structure will be better suited to
support the successful execution of its overall business strategy.”
About US Farms, Inc.
US Farms, Inc. is a diversified commercial Farming and Nursery company. The
company grows, markets and distributes horticultural products through a
number of wholly owned subsidiaries. The horticultural products are sold
through supermarkets, home centers, retail merchandisers, garden centers,
re-wholesalers, and landscapers throughout the United States and Canada.
Currently the company has subsidiaries, which provide a full range of
products including Aloe Vera, Cactus, Succulents, Jade, Rare and Exotic
Palm Trees and Cycads.
For more information on US Farms, Inc., please visit
http://www.usfarmsinc.com. US Farms, Inc. is publicly traded on the
over-the-counter market under the new quotation symbol of USFM, effective
July 18th, 2008.
Safe Harbor
Forward-looking statement: Except for historical information, this press
release contains forward-looking statements, which reflect the Company’s
current expectation regarding future events. These forward-looking
statements involve risks and uncertainties, which may cause actual results
to differ materially from those statements. Those risks and uncertainties
include, but are not limited to, changing market conditions and other risks
detailed from time to time in the Company’s ongoing quarterly filings,
annual information form, and annual reports. We undertake no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. In light of these
risks, uncertainties and assumptions, the forward-looking events in this
press release might not occur.
Contact: US Farms, Inc. Tel: 858-488-7775 Ext 101 or 800-845-9133 Fax: 858-488-2828 Investor Relations |
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