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News
September 22, 2008Diamond Ranch Foods, Ltd. Announces Reverse Stock Split
Press ReleaseNEW YORK--(BUSINESS WIRE)--Diamond Ranch Foods, Ltd. (OTCBB: DRFO, formerly DFDR), a custom meat processing and distribution company, today announced that its Board of Directors had voted to effect a reverse split of the Company's common stock at a ratio of 1-for-2,000.
The reverse split was effective at the open of business on Friday, September 19, 2008. The Company's common stock began trading on the OTC Bulletin Board adjusted for the reverse stock split on Friday, September 19, 2008.
The Board of Directors had voted on a reverse split to obtain an increased and more attractive stock price, thus attempting to provide better visibility to institutions, investors and analysts. This could make the Company more attractive to a broader financial base over time, as well as improve the Company's ability to raise additional capital through equity offerings.
Instead of issuing fractional shares of stock as a result of the reverse split, Diamond Ranch Foods, Ltd. will round to the nearest whole shares for those stockholders who would be entitled to receive fractional shares. Signature Stock Transfer, Inc. will act as the exchange agent for exchanges of stock certificates in connection with the reverse split.
About Diamond Ranch Foods, Ltd.
Diamond Ranch Foods, Ltd., a processor and distributor of meats and fresh cut portion controlled poultry, is located in the historic Gansevoort meatpacking district in lower Manhattan, NY. Operations include packing, processing, labeling and distribution of products. The company's diversified customer base includes in-home food service businesses, retailers, hotels, restaurants, and institutions, deli and catering operators and industry suppliers. The company also provides portion controlled meats, custom meat cutting, and private labeling.
Please visit the Company's website at: http://www.diamondranchfoods.com.
Safe Harbor Forward-Looking Statements
Statements contained in this release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are made based on information available as of the date hereof, and the company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties and the company's actual results may differ from these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the company's products and services, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.
Contacts
Redwood Consultants, LLC
Jens Dalsgaard, 415-884-0348
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