SAN DIEGO, CALIFORNIA--(Marketwired - Jan. 31, 2014) - The following corrects and replaces the release sent on Jan 31, 2014 @ 03:01 ET. The incorrect body of the release was sent in error by Marketwired.
Rostock Ventures Corp. (OTCBB:ROSV) (the "Company"). "Due to the high interest by investors in the marijuana industry combined with social media, we are implementing a corporate pivot, and taking an exciting new approach to our business going forward. We will be implementing a business model that will be centered on marijuana/social media and local e-commerce." Stated Rostock Ventures Corp. President Gregory Rotelli, "We are currently assembling a management team to launch the platform that takes social media and local e-commerce to a new level. In fact, we are taking social media/marijuana industry to more interactive levels which I feel is poised for success."
With many states now legalizing marijuana by stating the drug is no more dangerous than alcohol, and by citing that support for both Washington and Colorado's recent legalization of marijuana. The potential seems to suggest that the nationwide legalization would put Rostock in a position to be poised for success.
Recently the company's Board of Directors has voted to initiate a 5-for-1 forward split of the Company's common shares payable to our shareholders of record. At this time the Board has not selected the record date to implement the forward stock split, but once a final record date is established, it will be announced. The Company anticipates that the forward stock split will occur early in 2014. Once we have implemented the 5-for-1 forward stock split, the Company's common stock will begin trading on a split-adjusted basis and the shareholders of record as of the selected record date will then own five shares for every one share previously owned. For example, if you owned 50,000 shares at the close of the record date you will be entitled to 250,000 shares after the split occurs. Presently the Company has approximately 41,000,000 shares of its common stock issued and outstanding giving the company a market cap of just over $1 million currently. The Board and management feel that forward splitting the shares will increase liquidity in the Company which will give our shareholders added value and thus enable the Company to seek potential new projects.
Some of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of exploration programs; competition from other exploration or mining companies; and the company's ability to obtain additional funding required to conduct in exploration activities. Please refer to the company's filings with the Securities and Exchange Commission for a comprehensive list of risk factors that could cause actual results, performance
or achievements of the company to differ materially from those expressed or implied in such
forward looking statements. The company undertakes no obligation to update or revise any forward-looking statements.