SANTO DOMINGO, Dominican Republic, Nov. 2, 2012 (GLOBE NEWSWIRE) -- Santo Mining Corp. (OTCBB:SANP), (the "Company"), has instructed its counsel to prepare an application to FINRA regarding a 2-1 forward split of the Company's common shares. It is expected that the split will be undertaken as soon as practicable and will be administered on a 'payable upon surrender' basis; requiring shareholders to deliver their certificates to the Company's transfer agent in order to receive their new post-split shares.
The forward split is subject to the approval of the Financial Industry Regulatory Authority (FINRA) and the decision to approve the 2-1 forward split was done to make the price of the stock more accessible to a larger percentage of the investment community.
"We have seen our Company grow and together with this growth we have seen the price of our shares rise as well, and to reflect our continued growth and anticipated revenue, we want to allow our shareholder base to grow and to be more diverse," states Alain French, CEO of Santo Mining Corp.
About Santo Mining Corporation
Santo Mining Corporation is an aggressive junior minerals exploration and development company, based in the Dominican Republic. The Company is actively pursuing the acquisition and exploring of properties, which are strategically located in the prolific and highly prospective Hispaniola Gold-Copper Back-Arc area in the Dominican Republic. For more information visit our website at: www.santomining.com
Further information on the Company and its filings can be found at www.sec.gov
The Santo Mining Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=14686
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, such as the Company's plans to acquire a number of highly prospective gold exploration properties, which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Company's properties and the timing of any work program or exploration activities, and any results that may be obtained or the commencement of production.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Source:Santo Mining Corp.