SOURCE: Crowne Ventures, Inc.

August 22, 2011 18:41 ET

Crowne Ventures to Reduce Number of Authorized Shares

LAS VEGAS, NV--(Marketwire - Aug 22, 2011) - CROWNE VENTURES, INC. (PINKSHEETS: CRWV) is pleased to announce that its Board of Directors and Stockholders have approved an Amendment to the Articles of Incorporation to reduce the number of authorized shares in the Company from 1,000,000,000 to 550,000,000, with 500,000,000 common shares authorized, and 50,000,000 preferred shares authorized.

In addition, the Company has announced the launch of its new website, www.crownemining.com. Each of these actions is in keeping with the Company's strategic plans and goals to become a major gold producer.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

Contact Information

  • For Further Information Contact:

    Investor Relations
    Crowne Ventures, Inc.
    310.461.3703
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