Press Releases
Worldbid Announces Stock Consolidation
FOR IMMEDIATE RELEASE
VICTORIA, BC -- (MARKET WIRE) -- 09/06/2005 -- WORLDBID CORPORATION (the "Company") (OTC BB: WBID) announced today that the Company has approved a one for twenty five (1:25) reverse split of its issued and outstanding common shares. The reverse split is expected to be effective on September 19, 2005, subject to approval of that date by the NASD. Shareholders will be requested to deliver their share certificates representing the pre-reverse split common shares to the Company's transfer agent against delivery of new certificates representing the post-reverse split shares. A letter of transmittal for the exchange of the shares will be delivered to the shareholders upon the split being effective.
As a result of the reverse share split, the Company's authorized capital will be decreased from 500,000,000 shares of common stock, par value $0.001, of which 126,278,292 shares are issued and outstanding to 20,000,000 shares of common stock, par value $0.001, of which 5,051,131 shares will be issued and outstanding.
For more information please Contact:
Logan B. Anderson
(360) 201-0400
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