LAS VEGAS, April 11, 2013 /PRNewswire/ -- Foy-Johnston (OTC Pink: FOYJ), the board of directors of Foy-Johnston have significantly reduced the issued and outstanding shares by getting the two majority shareholders to donate back to treasury 100,000,000,000 shares of stock, reducing the outstanding share amount to 28,127,145,000, an over 78% reduction in the outstanding share amount.
The reduction will result in an increase in the value of the remaining shares held by our existing shareholders. The Company's properties in Cameroon present very good opportunities for creating enhanced shareholder wealth. On a per share basis the potential value in the Cameroon holdings alone represents over $0.25 in shareholder value, significantly undervaluing the Company's stock at today's prices.
Alexander D. Powers, President of Foy-Johnston Inc. said, "We are pleased to have negotiated the reduction in the issued and outstanding shares of the company, giving much more value to all the existing shareholders."
About Foy-Johnston Inc.
Foy-Johnston through its wholly owned subsidiary Cameroon Mines is involved in enhancing exploration and mining assets through diligent application of technical and commercial expertise for the benefit of all stakeholders of Foy-Johnston in an efficient and environmentally responsible manner. Cameroon Mines is a mining explorer and producer committed to developing strategic mining exploration and project opportunities in Gold, Precious gems, Rare Earth Metals and Platinum Group Metals. The Company has assembled an experienced group of individuals with broad local and international industry knowledge. Where it will assist to build shareholder value and help fast-track the development of its accumulated assets Cameroon Mines will also secure the participation and support of key strategic partners globally, who can provide tangible benefits towards achieving the Company's goals. The company has already acquired a portfolio of Gold and Diamond exploration tenements in key mineral regions of Cameroon and Central African Republic. Our website is www.cammines.com
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.