USCorp Announces Share Distribution Record Date
LAS VEGAS--(BUSINESS WIRE)-- USCorp (OTCMarkets: USCS.PK) today announced that the record date for distribution of shares of its subsidiaries, USMetals, Inc. ("USMetals") and Southwest Resource Development, Inc. ("Southwest"), will be market close on April 15, 2013. All holders of USCorp shares as of the April 15, 2013 record date will be entitled to receive one common share each of USMetals and Southwest for each 10 common shares (or shares convertible into common shares) held in USCorp.
The Company plans to file the forms necessary in order for USMetals and Southwest to commence trading in the United States. Shareholders will receive their shares from our transfer agent regarding the distribution of shares in USMetals and Southwest. European shareholders will be contacted by their respective stock brokers or receive their shares from the Company's transfer agent. More details will be announced as they become available.
Robert Dultz, USCorp Chairman and CEO said, "We are pleased to make this announcement. It has been a long time coming and the result will be well worth the wait. The finalization of the spinoffs of our subsidiaries will allow our shareholders to more fully participate in the growth of each company separately. Although this process has taken more time than anticipated, when the spinoffs are completed it is our intention that our shareholders will own shares in three publicly trading companies, each with its own properties, and each able to develop independently of the other."
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.
KEYWORDS: United States North America Nevada
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