CANTON, Ga., Sept. 9, 2013 (GLOBE NEWSWIRE) -- Blue Water Global Group, Inc. (OTCBB:BLUU) announces that on September 6, 2013 its Board of Directors voted in favor of a 10-for-1 forward stock split of its issued and outstanding common stock. This means that every shareholder of record as of the record date will receive ten shares of Blue Water's common stock for every share held prior to this forward stock split. As soon as Blue Water receives approval for this corporate action by the Financial Industry Regulatory Authority (FINRA) it will announce in a separate press release the final record, payable, and effective dates of this forward stock split.
Presently Blue Water has 22,703,215 shares of its common stock issued and outstanding. After effecting this forward stock split Blue Water will have approximately 227,032,150 shares of common stock issued and outstanding.
Blue Water's President and CEO, J. Scott Sitra, stated, "Because Blue Water is entering into a strong growth phase we determined now was an excellent time to reward our loyal shareholders by improving our capital structure and allowing them to more fully benefit from our business efforts. Typically when a growing business conducts a forward stock split it often leads to positive side-effects, including increased market liquidity, narrowed bid/ask spreads, reduced volatility, faster price appreciation, and a larger universe of interested investors. We fully anticipate this forward stock split will result in such benefits for Blue Water's current and future shareholders."
Blue Water Global Group, Inc. is a publicly held developer of casual dining restaurant properties. Blue Water is currently developing a chain of casual dining restaurants in popular tourist destinations throughout the Caribbean under the Blue Water Bar & Grill™ brand. Additionally, Blue Water is also engaged in making strategic equity investments in promising businesses that are in the early stages of obtaining their own listing on the OTCBB.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Blue Water Global Group, Inc. ("Blue Water") assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Blue Water's filings with the Securities and Exchange Commission, including "Risk Factors" in its Annual Report filed on Form 10-K.