WASHINGTON, October 24, 2012 /PRNewswire/ -- Paradigm Resource Management Corporation (the "Company") (OTCBB: PRDC) announced that on September 14, 2012 its board of directors approved the cancellation of shares held by the Company as treasury shares. As a result the Company now has 322,800,000 shares of common stock issued and outstanding. The Company took this action to effectuate a more favorable capital structure, facilitating more favorable institutional financing for its corporate operations.
(a) | Class of Shares to be cancelled: |
Common Stock of Paradigm Resource Management Corporation | |
(b) | Number of shares to be cancelled: |
1,200,000,000 shares | |
(c) | Cancellation Date: |
September 10th, 2012 | |
(d) | Issued & Outstanding Post Cancellation: |
322,800,000 shares |
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.
