Great West Gold, Inc. Reports on Regulation SHO Threshold Security List
Thursday March 3, 8:00 am ET
Company Comments on Short Positions on Its Stock
NEW YORK, NY--(MARKET WIRE)--Mar 3, 2005 -- Great West Gold, Inc. (OTC BB:GWGO.OB - News) announces that its shares of Common Stock are shown on the 'Regulation SHO Threshold Security List' clearly demonstrating the attention regulatory agencies are focusing on the 'Naked Trading' of securities. The 'threshold security list' is a list of any equity security of any issuer that is registered under Section 12 of the Exchange Act, or that is required to file reports under Section 15(d) of the Exchange Act (commonly referred to as reporting securities), where, for five consecutive settlement days (1) There are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more per security; (2) The level of fails is equal to at least one-half of one percent of the issuer's total shares outstanding; and (3) The security is included on a list published by a self-regulatory organization (SRO). The list of all corporations on the watch list can be found at www.nasdaqtrader.com/aspx/regsho.aspx. Mr. Michael G. Saner, CEO of Great West Gold, Inc., stated the Company is pleased that Regulation SHO is now effective. The added emphasis and focus of regulatory agencies upon this questionable activity should help extinguish Naked Shorting and protect investor values and restore confidence in the value of the company's shares.
Thursday March 3, 8:00 am ET
Company Comments on Short Positions on Its Stock
NEW YORK, NY--(MARKET WIRE)--Mar 3, 2005 -- Great West Gold, Inc. (OTC BB:GWGO.OB - News) announces that its shares of Common Stock are shown on the 'Regulation SHO Threshold Security List' clearly demonstrating the attention regulatory agencies are focusing on the 'Naked Trading' of securities. The 'threshold security list' is a list of any equity security of any issuer that is registered under Section 12 of the Exchange Act, or that is required to file reports under Section 15(d) of the Exchange Act (commonly referred to as reporting securities), where, for five consecutive settlement days (1) There are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more per security; (2) The level of fails is equal to at least one-half of one percent of the issuer's total shares outstanding; and (3) The security is included on a list published by a self-regulatory organization (SRO). The list of all corporations on the watch list can be found at www.nasdaqtrader.com/aspx/regsho.aspx. Mr. Michael G. Saner, CEO of Great West Gold, Inc., stated the Company is pleased that Regulation SHO is now effective. The added emphasis and focus of regulatory agencies upon this questionable activity should help extinguish Naked Shorting and protect investor values and restore confidence in the value of the company's shares.
