SOURCE: Cody Ventures Corporation

June 17, 2005 07:00 ET

Cody Ventures Corporation (OTC: CDYV) Board of Directors Receives Committee Recommendations to Move Forward on Forward Split Dividend to Shareholders

CEDAR HILL, TX -- (MARKET WIRE) -- June 17, 2005 -- Tarja Mees, CEO of Cody Ventures Corporation (OTC: CDYV) announced today that the Board of Directors of the company has received the Special Committee recommendations to implement a common stock dividend in the form of a forward split of its outstanding shares by mid-July. The number of shares to be distributed to shareholders will be determined by the Board after the accountants' report of financial condition as of June 30th, with the timing of the distribution set thereafter in accordance with the statutory and regulatory notification requirements and procedures of the company's transfer agent and the NASD. Notices will be mailed and shareholder approval action will be requested and filed with the Secretary of State of Nevada. In addition, the company's transfer agent and the NASD will need to be notified in a timely manner to implement the distribution.

As Mrs. Mees stated previously, "The Board believes it is time to thank and reward loyal shareholders with a stock dividend as a way for them to participate in the growth and good fortune enjoyed by the Company." She said again that, "We feel the Company has made significant strides in achieving its goals within the last thirty days, having recently received an initial infusion of equity capital from a private placement netting approximately $170,000." She reiterated that, "The Company is also presently in negotiations to escrow the acquisition of printing assets that could add substantial revenues in excess of $3 million annually, cut production costs and provide a stronger foundation in our developing a fully integrated advertising and publishing enterprise that will be a force to be considered by the industry not only in Texas, but nationally as well."

Cody Ventures Corporation's website can be found at http://www.codyventures.com

Cody's operating subsidiary, Cody Ventures, Inc.'s, website at http://www.tidbitstexas.com/

A number of statements contained in this Report are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Certain written statements in this press release constitute "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Words or phrases such as "should result," "are expected to," "we anticipate," "we estimate," "we project," "we intend," or similar expressions are intended to identify forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statements. These risks and uncertainties include demand for our services, product development, our ability to maintain acceptable margins and control costs, the impact of federal, state and local regulatory requirements on our business, the impact of competition and the uncertainty of economic conditions in general, including the timely development and market acceptance of products, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements, since the statements speak only as of the date that they are made, and we undertake no obligation to publicly update these statements based on events that may occur after the date of this document

Contact Information

  • Contact:
    Tarja Mees
    Cody Ventures Corporation
    1353 Middleton Dr. Suite #2000
    Cedar Hill, Texas 75104
    Telephone: 469-223-3807
    Fax: 972-293-1171
    Eml: Email Contact