CARSON CITY, Nev., June 21 /PRNewswire-FirstCall/ -- The Board of Geneva Resources, Inc. ("Geneva") (OTC Bulletin Board: GVRS) authorized and approved a reverse stock split of one for every four (1:4) of our total issued and outstanding shares of common stock of Geneva (the "Reverse Stock Split"). The Reverse Stock Split was effectuated based on market conditions and upon a determination by Geneva's Board of Directors that the Reverse Stock Split was in Geneva's best interests and those of its shareholders.
The Reverse Stock Split was effectuated after the close of business on Friday, June 18, 2010. Therefore, the first day of trading on a consolidated basis will be Monday, June 21, 2010. The total number of issued and outstanding shares of common stock of Geneva prior to the Reverse Stock Split was 104,743,062. The total number of issued and outstanding shares of common stock of Geneva after the Reverse Stock Split will be 26,185,766. The common stock will continue to be $0.001 par value.
Geneva's trading symbol on the Over-the-Counter Bulletin Board will change to "GVRS".
On June 21, 2010, Geneva filed with the Nevada Secretary of State a certificate of change to the Articles of Incorporation to decrease its authorized capital structure commensurate with the decrease of its shares of common stock pursuant to the Reverse Stock Split. Therefore, Geneva's authorized capital structure has been decreased from 200,000,000 shares of common stock to 50,000,000 shares of common stock, par value of $0.001.
About Geneva Resources, Inc.
Geneva Resources, Inc. is a mineral exploration company focusing on precious metals.
For further information see: www.genevaresourcesinc.com
Symbol: OTCBB – GVRS; Frankfurt/Berlin Symbol – R3M, WKN No.: A0MMCN; ISIN: US3722371073
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SOURCE Geneva Resources, Inc.