American Uranium Approves 46:1 Share Consolidation
American Uranium Corporation announced that its Board of Directors has approved the consolidation of its shares on a 46:1 share basis. The Company will proceed with all necessary filings to complete the reverse stock split as soon as possible.
In light of discussions with potential investors and the state of capital markets the Company’s Board has concluded that if American’s share structure is not significantly revised the Company might not be able to meet its goals for future equity participation and financing.
AMERICAN URANIUM CORPORATION is a Nevada based uranium exploration and development company, which is committed to spending US $12.375 million to earn an initial 22.5% in the Pine Tree-Reno Creek project and a total of US $33 million over 6 years to earn a 60% interest in the Project from Strathmore Minerals Corporation.
