WASHINGTON, July 3, 2012 /PRNewswire-Asia/ -- China Digital Ventures Corporation, a publicly traded U.S. based junior exploration and mining company, today announced that effective immediately its company name has changed to Paradigm Resource Management Corporation ("Paradigm Resource" or the "Company") and its ticker symbol has changed from (OTCBB: CDVV) to (OTCBB: PRDC).
The Company has also obtained FINRA approval for a hundred-for-one stock split of its common stock. The split is accomplished by a distribution of ninety-nine shares of Paradigm Resource common stock for each share outstanding and held by holders of record on June 22, 2012.
As part of the stock split, FINRA will append a "D" to the Company's ticker symbol to indicate the completion of the split. After a 20-day period following the split, the ticker symbol will revert to "PRDC".
On June 22, 2012, the Company had approximately 15 million shares outstanding. As a result of the hundred-for-one stock split, Paradigm Resource now has approximately 1.5 billion shares outstanding. Upon completion of the stock split, 1.25 billion shares will be canceled and the share capital will consist of approximately 250 million ordinary shares.
In due course, Paradigm Resource plans to make further announcements of a new management team along with a new revised corporate website.
CONTACT
Robert M. Price, Director
(202) 536-5191
ABOUT PARADIGM RESOURCE
Paradigm Resource Management Corporation (formerly China Digital Ventures Corporation), is a publicly traded U.S. based junior exploration and mining company headquartered in Rockville, Maryland. The Company is currently pursuing opportunities for several acquisition targets focusing on operational plans for current projects across the trans-pacific regions. Paradigm Resource's commitment to asset growth and increased shareholder value will be sustained by the development of highly prospective projects, accelerated exploration activities and the acquisition of viable resources.
DISCLAIMER
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on Paradigm Resource Management Corporation predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, changes in metal prices, the ability to successfully fund any exploration activities, consumer and business consumption habits, the ability to fund operations and other factors over which Paradigm Resource Management Corporation has little or no control. Such forward-looking statements are made only as of the date of this release, and Paradigm Resource Management Corporation assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in Paradigm Resource Management Corporation Form 10-K for its fiscal year ended December 31, and other documents filed from time to time by Paradigm Resource Management Corporation with the Securities and Exchange Commission.
