TORONTO, Aug. 30, 2011 /PRNewswire/ - Bryn Resources Inc.
(PINK: BRYN) (PINKSHEETS: BRYN.PK) is pleased to announce that in
an effort to increase shareholders value and in preparation of
up-listing to a higher exchange, it has approached key shareholders
who agreed to reduce their holdings by cancelling 59,000,000
restricted shares held by them. The cancellation will reduce the
overall outstanding shares to 55,766,260.
Bryn Resources Inc. has also identified 1 (one) shareholder,
Bastille Advisors Inc, that will have an equity position of greater
than 10% and as a result, its shares will be restricted and
reported in the company's quarterly financials. This will in effect
reduce the company's float by 6.55 Million shares to
18,704,817.
The company continues as planned working on their interest in
Nova Scotia and will provide
further updates to its shareholders shortly.
About Bryn Resources Inc.
Bryn Resources is a precious metals exploration company
currently concentrating its efforts in Eastern Canada region holding 100% interest in
Renfrew Nova Scotia that comprises of 62 Claims covering 2,480
acres, and 100% interest in Wine Harbour, Nova Scotia. These claims have historically
demonstrated their mineralization and in the period between 1862
and 1939 yielded 42,726 ounces of gold from 83,000 tons of ore, for
an average content of 0.52 ounces per ton. Bryn Resources Inc.
continues to seek partnerships in proven mineralization which are
close to the production phase.
This press release contains forward-looking statements that
reflect the Company's current expectation regarding future events.
Actual events could differ materially and substantially from those
projected herein and depend on a number of factors. Certain
statements in this release, and other written or oral statements
made by Bryn Resources Inc. are "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors,
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities.
SOURCE Bryn Resources