SHAWNEE, OKLAHOMA--(Marketwire - Oct. 29, 2012) - On October 24, 2012, Nitro Petroleum Incorporated (the "Company") (OTCBB:NTRO) received confirmation that the Nevada Secretary of State accepted its Certificate of Change, which will cause the number of its authorized shares of common stock, $0.001 par value per share, to be decreased from 2,000,000,000 to 20,000,000 and cause the number of its issued and outstanding shares to be decreased from to approximately 207,424,156 shares to approximately 2,074,242 shares, with no change in par value. All share fractions will be rounded up to the next whole share so that no stockholder will be cashed out, issued a fractional share or scrip or be entitled to dissent and seek the fair value of his, her or its shares under Nevada law.
The 1-for-100 share reverse stock split will have a record date as of the close of the markets on October 31, 2012, and will be effective as of 11:59 p.m. on October 31, 2012. On and after the effective time, all share certificates will represent the lesser number of shares pursuant to the terms of the reverse stock split.
As of the effective time, the Company's post reverse split shares will be identified by new CUSIP No. 65478E303.
James Borem, President
Nitro Petroleum Inc.