VANCOUVER, British Columbia, March 3, 2005 (PRIMEZONE) -- Newmark Ventures, Inc. (OTCBB:NWMV) ("Company") today clarifies management's decision to seek shareholder approval for a forward split of the Company's common shares.
The share split to be effected subject to shareholder approval will result in one (1) additional share issued for every two (2) common shares owned increasing the total number of shares outstanding by 1,830,006 shares. Therefore the holders of two (2) common shares will own three (3) common shares. The result will be an increase from 3,660,012 common shares outstanding to 5,490,018 common shares outstanding.
Management believes that the current per share price level of our common stock has reduced the effective marketability of the shares and that a forward split might encourage potential new investors and increase the liquidity of the Company's common stock.
Cautionary Statement: This news release may include certain ``Forward-looking statements'' within the meaning of Section 21E of the United States Securities Exchange Act, as amended. All statements, other than statements of historical fact, included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements in this release are expressly qualified by this notice.