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King Resources, Inc. (KING) Corporate Restructuring
HENDERSON, NEVADA, Oct 19, 2012 (MARKETWIRE via COMTEX) -- King Resources, Inc. (PINKSHEETS: KING) ( www.king-resources.com ) KING management is of the opinion that this is a material event which requires public notice.

 1.  A new preferred shareholder group (PSG) has acquired the majority stake 
 
position in KING via preferred share purchase.  
 
2.  PSG is a New Jersey based mining and exploration group.  
 
3.  PSG intends to appoint new management, directors, and board of directors 
 
shortly.  
 
4.  KING intends to diversify the Grid Grabber from its holdings by a 
 
rescission agreement. This is an amicable and civil separation. All 
 
shares issued to Grid Grabber in the merger will be returned to KING's 
 
treasury.  
 
5.  All existing management and directors will resign with the completion of 
 
the rescission.  
 
6.  PSG and KING intend to focus its attention on its core business model 
 
mining and exploration.  
 
7.  The PSG obtained control of KING's majority stake position through an 
 
all cash transaction.