KING .004 could have a run in it King Resource
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KING .004 could have a run in it >>>
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.