SILVER FALCON MINING, INC. (SFMI) PROVIDES GUIDANCE TO SHAREHOLDERS
OVER SHARE DILUTION CONCERN.
Murphy, Id. -- (MARKET WIRE) -- 04/12/12 --Management at Silver Falcon Mining, Inc. (SFMI.OTCBB) would like to make reference to its current fully diluted share count, 789,162,405.
Since the publication of its 3rd quarter results, share dilution increased from 344,966,817 to 789,162,405.
The Company’s 10-K published for the Year-Ending December 31, 2011, states under “NOTE 15” of the financials, a breakdown of current share issuances,
Management wants shareholders to understand that the majority of the shares issued operate under Rule 144 and Section 16 US SEC rules, which are RESTRICTED from free-traded.
The breakdown between free traded shares and RESTRICTED shares are as follows (Please: reference NOTE 15 on the Company recent 10-K Filed, April 11, 2012).
|Gold Land Holdings Co.
| Vendor Payables
|Promissory Note Holders
||RESTRICTED- RULE 144
||RESTRICTED-RULE 144/Section 16
- As of 2/21/2012 the Company had a street FLOAT of 298,731,191-reported by CEDE & CO.
- Certified shareholder count of 177,726,147 held in certificate form.
- Total outstanding on fully dilutive basis, as of 03/13/2012, is 789,162,405.
Of the total 789,162,405 outstanding on fully diluted bases, the Officer/Directors/Major Shareholders held approximately 233,000,000 under restricted RULE 144 and SECTION 16. SECTION 16 of the US SEC rule places further restrictions beyond Rule 144 for officer/director/major shareholders. Major shareholders are classified as holders of 10% or more of the fully diluted total aggregate shares.
Noteworthy, shares issued to Officer and Directors had been issued at prices higher than the current share price.
Management wants to ensure that even though dilution has occurred that the vast majority of shares, except for 40,571,071, are held under both RESTRICTED RULE 144 and Section 16 sale previsions. Thus, the street float went up approximately 40.5M to 298,731,191 since the Company’s third quarter report filed 11-14-2011.
Silver Falcon Mining, Inc. (SFMI:OTCBB) is a developer and explorer of mineral resource properties, primarily in Owyhee County, Idaho, USA, with the objective of being a profitable, low-cost, precious metal producer and creating significant growth in shareholder value.
Further Information: contact Rich Kaiser, Investor Relations, 800-631-8127 and/or visit http://www.silverfalconmining.com.
About Silver Falcon Mining, Inc.
SFMI has mineral rights to approximately 2,000 acres on War Eagle Mountain in southern Idaho. Its 100% owned Diamond Creek Mill is situated at the foot of War Eagle Mountain and is serviced by 6.2 miles of paved roads from State Highway 78. It maintains year round access to the Sinker Tunnel which will facilitate underground mining of the rich veins crisscrossing the mountain and employs a mining oriented local workforce.
For further information, contact Mr. Richard Kaiser, Investor Relations, 757-306-6090 and/or www.silverfalconmining.com
SFMI cautions that statements made in press releases constitute forward-looking statements, and makes no guarantees of future performance and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
Yes International Ltd.
Attn: Rich Kaiser
3419 Virginia Beach Blvd., #252
Virginia Beach, VA 23452