The board of directors and majority of the company’s shareholders of Jade Art Group, a seller and distributor of raw jade sourced from the SheTai Jade mine in China, have authorized a one-for-three reverse stock split of its outstanding common stock effective May 15, 2008.
The details of the reverse stock split are as follows:
The marketplace effective date on which the reverse stock split will be reflected in trading on the OTC Bulletin Board has not yet been determined by NASDAQ, but is expected to be in late May or June of 2008. An announcement will be made by the company when it receives confirmation from NASDAQ.
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