Interline Resources Corp. Announces 1-for-5,000 Reverse Split
April 18 2014 - 9:00AM
Business Wire
Company realignment includes capital
restructuring
Interline Resources Corp. (OTC Pink: IRCE), a Utah corporation,
today announced that it has this date filed a Notification of
Corporate Action with the Financial Industry Regulatory Authority
(FINRA) to effect a reverse stock split at the rate of one share
for every 5,000 shares currently issued and outstanding.
IRCE anticipates the reverse stock split will be effective by
April 28, 2014, contingent upon approval and authorization from
FINRA. At the effective time of the reverse stock split, every
5,000 (five thousand) shares of the Company’s issued and
outstanding common stock will be automatically converted into one
(1) issued and outstanding share of common stock. This will reduce
the number of shares outstanding from approximately 820,738,737 to
164,148 shares.
Tim Regnier, President and COO of IRCE, commented, “We realize
this is a significant step as we strategically realign Interline
Resources Corp. Management’s intent is to establish a capital
structure that will be more in line with our planned product
offering and will provide better access to investment capital.”
This press release contains certain statements that may include
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
often identified by the use of forward-looking terminology such as
"believes," "expects," "anticipate," "optimistic," "intend," "will"
or other similar expressions. The Company's actual results could
differ materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in the Company's periodic reports that are filed with the
Securities and Exchange Commission and available on its website at
http://www.sec.gov. All forward-looking statements attributable to
the Company or persons acting on its behalf are expressly qualified
in their entirety by these factors. Other than as required under
applicable securities laws, the Company does not assume a duty to
update these forward-looking statements.
for Interline Resources Corp.Pam Lagano,
727-480-3082plagano@laganoassociates.com