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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cotton and Western Mining Inc (GM) | USOTC:CWRN | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.000001 | 0.000001 | 0.00 | 00:00:00 |
"In the fall of 2008 we had executed a first stage agreement (a memorandum of understanding) with a Chinese investment group to join with us in the development of our Baja Pacific Iron Ore Mining Project; it was decided by all parties to wait until after the Olympics to sign the final terms and conditions contract. During this period of time, the Chinese Government had closed many steel mills to reduce air pollution in northern China, millions of tons of raw crude iron ore accumulated on the docksides reducing demand for the materials; together with the slow down in the steel industry our potential partners decided to withdraw their offer.
"As a part of the offer to finance the Baja Pacific Mining Project, the Chinese group would receive a large block of CWRN restricted shares; however, our board of directors was concerned about losing the voting control of our common shares and by unanimous consent voted in favor of the insiders and affiliates to keep in place at all times a three to one common shares voting majority; thus, the company's outstanding share count increased to cover both the SEC ten percent rules for issuing new shares and position the company's founders to maintain control of the company.
"Effective as of July 30, 2009 the following share structure of CWRN." As stated by Mr. Cotton:
Authorized Common Shares : 6,000,000,000 Issued and Outstanding Shares : 2,308,601,980 Issued and Restricted Shares : 2,009,297,818 Issued and Free Trading Shares : 299,304,162 Issued and Free Trading Shares Held in Electronic Trade Accounts: 173,763,364 as per the latest Depository Trust Corporation (DTC) Report. Issued and Free Trading Shares not Controlled by Insiders or Friendly Shareholders, approximately: 55,000,000
About Cotton & Western Mining, Inc.
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) was founded in early 2005 as a Nevada Corporation by Robert L. Cotton, with a specific plan and goal in mind; that being, to operate a low cost and high profit junior "Iron Mineral Mining" company. Cotton & Western Mining's mission is to offer reliable, high-quality and cost effective raw materials to the steel manufacturing industry on a global scale. For more information, please visit the company's website at www.cottonwestern.com.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
Contact: e-media Direct, Inc. Investor Relations (866)284-2835 info@e-mediadirect.com
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