SOURCE: Modern Energy Corp

November 26, 2007 08:46 ET

MDNO Ex-Dividend Date Nov. 27 Set by NASDAQ

100 Shares of Grand Pacaraima Gold to Be Distributed for Every Share of Modern Energy Corp.

LOS ANGELES, CA--(Marketwire - November 26, 2007) - Modern Energy Corp. (PINKSHEETS: MDNO) (FRANKFURT: ME2B) was notified by NASDAQ that the ex-dividend date will be November 27, 2007 for the announced dividend of 100 shares of Grand Pacaraima Gold Corp. for every 1 share of MDNO. Those who buy shares on or after the ex-dividend date will not be entitled to this dividend. Ten percent (10%) of the distributed shares of Grand Pacaraima are to be unrestricted while the other 90% are to be restricted.

Note that Modern Energy Corp. Class B Preferred shares (CUSIP: 607587 201) (distributed to MODR shareholders as of October 16, 2007) are eligible to be converted to common shares of MDNO at the rate of 100,000 preferred to 1 common share when a payment is made to the Modern Energy Corp. of $1.00 per common share. However, NASDAQ has not yet assigned a symbol for the Preferred shares. The Company will announce when a symbol is assigned.

The Company holds marketable securities, most of which were received as stock dividends in various corporations, and is also considering passing on those dividends and distributing shares to its shareholders of the following companies: PayChest Inc., Wall Street Capital, Inc., XXStream Entertainment, Western Pac Minerals, and Infinity Mining. We will announce in the near future details concerning if and when these other shares will be distributed to our shareholders.


This information contains forward-looking statements that involve risks and uncertainties. These statements are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause Modern Energy Corporation's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, development costs and risks, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

Contact Information