SOURCE: Cigma Metals Corporation

May 19, 2006 15:10 ET

Cigma Metals Corporation Announces Completion of Regulatory Review of Its Previously Announced Two for One Forward Stock Split; NASDAQ Has Advised That the Company's Common Stock Will Commence

Trading on the Pink Sheets Under the New Trading Symbol CGMX, Effective at the Open of the Market on May 22, 2006

COOLUM BEACH, AUSTRALIA -- (MARKET WIRE) -- May 19, 2006 -- (PINKSHEETS: CGMV); (Frankfurt: C9K.FSE), (Frankfurt: C9K.ETR) Cigma Metals Corporation has been notified of the successful completion of the Company's documentation submitted to the NASDAQ with respect to its previously announced two for one forward stock split of the Company's common stock. Commencing on May 22, 2006, the Company's common stock will commence trading on the Pink Sheets under the new trading symbol CGMX rather than its old trading symbol CGMV.

On April 7, 2006, Cigma's Board of Directors approved a two for one forward stock split effective May 15, 2006 subject to applicable regulatory approval (the "Effective Date"). The Company believes a 2:1 stock split will enhance the liquidity and marketability of the common shares and make the common shares accessible to a wider range of investors.

Although each share of the Company's issued and outstanding common stock on the Effective Date (the "Pre-Split Shares") shall be automatically converted and split into 2 shares of the common stock (the "Post-Split Shares"), Shareholders must return their certificates if they wish to receive new replacement certificates representing the Post Split Shares. The new certificates will evidence the Company's new CUSIP number, which is identified with its new trading symbol CGMX.

Cigma is a mineral exploration Company focusing on its interest in two mineral exploration licences located in the Tomsk Oblast Region, of the, Russian Federation, whose stock trades under the symbol "CGMV" on The Pink Sheets in the United States of America, and under the symbols "C9K.FSE" and "C9K.ETR" on the Frankfurt Stock Exchange in Germany.

ON BEHALF OF THE BOARD

"Lars Pearl"

Lars Pearl

President and Director

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology.

These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire properties on commercially viable terms; challenges to our title to our properties; operating or technical difficulties in connection with our exploration and development activities; currency fluctuations; fluctuating market prices for precious and base medals; the speculative nature of precious and base medals exploration and development activities; environmental risks and hazards; governmental regulations; and conduct of operations in politically and economically less developed areas of the world.

Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to our most recent annual report on Form 10KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov.

We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.

Contact Information

  • For Further information, please call:
    Lars Pearl
    Phone:
    (+61) 411-156-177
    Address:
    1 Edith Place
    Coolum Beach, Queensland, 4573
    Australia