SOURCE: Aussie Soles Group, Inc.

December 01, 2008 09:43 ET

Aussie Soles Group, Inc. Changes Its Trading Symbol From "AUSE" to "ASOG," and Announces a 10 to 1 Reverse Stock Split

FOREST HILLS, NY--(Marketwire - December 1, 2008) - Aussie Soles Group, Inc. (OTCBB: ASOG) announces that it has changed its trading symbol from AUSE to ASOG and a 10:1 reverse split of its outstanding stock.

The board of directors and shareholders authorized a 10 to 1 reverse stock split on all issued stock. Management believes that the new corporate restructure will position Aussie Soles to raise capital in this very challenging financial environment for product commercialization and should enhance shareholder value.

The Company will continue to keep shareholders notified on continuing progress and at the next shareholders' meeting scheduled for the second quarter of this fiscal year.

About Aussie Soles Group, Inc.

Aussie Soles™ develops and retails innovative hard sole casual footwear that utilizes technically advanced closed cell polymer foam, "AUSLITE™" which is soft, supportive, slip resistant and anti-bacterial. The "closed cell polymer" footwear phenomenon has exploded onto the sporting apparel market. Aussie Soles™ has improved on this product by introducing its own hard sole footwear, which sets itself above industry leaders, in the "closed cell polymer" footwear market. Aussie Sole hard sole concept is available in a variety of colors and styles to ensure that all customers can find a pair that is perfectly suited for them. Constructed from closed cell foam, AUSLIT molds to the foot allowing for comfort that is also chemical and odor resistant. The primary footwear lines consist of SNUGGS™, STARFISH™ and MARINE™. The versatility, comfort and unique qualities of Aussie Sole are popular in a wide range of consumer choices, appealing to boaters, hikers, campers, gardeners, beach walkers, and doctors, nurses and other health care workers.

Please visit www.aussiesoles.com for any additional product information or investor relations, 917-714-8929.

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.

Contact Information

  • Contact:
    Aussie Soles
    917-714-8929