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Jade Art Group, Inc. (JADG.OB) Announces One-For-Three Reverse Stock Split

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:

  • Every three shares of the Company’s outstanding common stock will be combined into one share of common stock.
  • The reverse split will reduce the number of outstanding shares of the company’s common stock from 239,940,000 shares to 79,980,000 shares (based on the number of shares outstanding on April 25, 2008).
  • Fractional shares will not be issued but instead will be rounded up to the next whole number.
  • Shareholders will not be required to obtain new or replacement share certificates. However, shareholders who desire to obtain a new share certificate or certificates may contact the company’s transfer agent, Empire Stock Transfer Inc.

    • 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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