Sungro Minerals Inc.
OTC Bulletin Board : SUGO

August 03, 2009 12:00 ET

Sungro Completes 5:1 Forward Split and Requests Voluntary Temporary Halt Trade Order

SURREY, BRITISH COLUMBIA--(Marketwire - Aug. 3, 2009) - Sungro Minerals Inc. (OTCBB:SUGO) (the "Company") announced today that following receipt of FINRA approval, the Company has effected the five-for-one forward stock split previously announced on June 26, 2009. In connection with the forward split, the Company's stock symbol has commenced trading under the new symbol "SUGO.OB" on the OTC Bulletin Board. The record date for the forward split is the close of business on July 6, 2009.

The forward split resulted in the increase in the number of issued and outstanding shares of common stock of the Company on the basis of five new shares for every one old share. As a result, the Company currently has approximately 48,750,000 issued and outstanding shares of common stock.

Following the effectiveness of the forward split, the new shares will be issued by the Company's transfer agent when certificates are physically surrendered, by replacing each share surrendered with five new shares, or if part of the DTC System, shares will be automatically adjusted for on the same basis.

Voluntary Request for Temporary Trading Halt

The Company has filed a request with FINRA for a temporary trading halt on the OTC BB. The Company is currently negotiating a potential property acquisition and would like to halt trading in the Company's securities until the Company has entered into a definitive agreement respecting the acquisition. Any agreement between the parties will be subject to completion of a definitive agreement between the parties with customary representations and warranties and satisfactory completion of both parties' due diligence review. There is no assurance that the parties will reach a definitive agreement regarding the proposed transaction as planned or at all.

The Company is also subject to a Temporary Cease Trade Order in British Columbia.

In light of these recent developments the Company wishes to halt trading on a temporary basis until such time as it completes the negotiation of its proposed acquisition.

Forward-Looking Statements

The foregoing press release contains forward-looking statements that can be identified by such terminology such as "will", "believes", "expects", "potential", "plans", "suggests", "may", "should", "could", "intends", or by similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by any matters disclosed by us in our periodic filings from time to time on EDGAR at or SEDAR at Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

On behalf of the Board of Directors

Mal Bains, President

Contact Information