Georgetown Corp. Reorganizes Capital Structure
11 Juin 2012 - 1:30PM
Marketwired
GEORGETOWN CORPORATION (OTCBB: GTCP) announces that it has
successfully negotiated a cancellation of 265 million common shares
and 25 million previously designated Class "A" preferred shares.
The Company believes that the reduction of 200 million
restricted and 65 million unrestricted common shares is an
important first step in the company's growth strategy. In addition,
the cancellation of the 25 million Class "A" preferred shares with
multiple voting rights reaffirms Georgetown's commitment to its
common shareholders and its adherence to its corporate governance
policies.
"This demonstrates our confidence in the long-term growth of the
company and our commitment to returning capital to our
shareholders. At every turn, we will continue to seek opportunities
to add value to the Company and build shareholder value," commented
Carl Swan, CEO.
On completion of the corporate actions necessary to effect the
cancellation of the shares, the Company will have approximately 275
million common shares issued and outstanding.
About Georgetown Corp.
Georgetown is an exploration or exploratory stage company
involved in the examination and investigation of land that may
contain valuable minerals. The Company plans to continue its growth
organically, search for new acquisitions, and expanding
geographically. It also plans to provide oilfield services and
equipment to independent and major oilfield companies in
exploration, production and development of oil and gas properties,
domestically and in selected international markets.
For more information about Georgetown Corp. please contact:
Investor Relations Department 1-877-646-0090 Email Contact
Georgetown (CE) (USOTC:GTCP)
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