LEESBURG, Va., Nov. 18, 2010 (GLOBE NEWSWIRE) -- Effective at market open today, Shot Spirits Corporation (Pink Sheets:SSPTD) moves forward with a 1-for-100 reverse stock split in which every 100 shares of the company's outstanding common stock converts to one share of common stock. The price of each common share in this case increases by the same ratio so that a stockholder will own fewer but higher priced shares, keeping the total investment the same upon effect. The reverse stock split will not have any impact on the voting and other rights of stockholders.
Shot Spirits Corporation CEO, Brian Barrett confirms that the split "will have no impact on the company's business operations. We believe that the stock structure is better aligned with our company's overall value. We feel confident that the move will mitigate lasting market effects related to shorting situations earlier this year."
Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
RELEASE PREPARED BY NMR, LLC
CONTACT: Shot Spirits Corporation Investor Relations 562.987.4939