Simultaneously, the Company Will Effectuate a 100 for 1 Reverse Stock Split
JACKSONVILLE, FL -- (Marketwired) -- 09/05/14 -- MV Portfolios, Inc. (OTCQB: CLGL) ("MVP"), a Jacksonville based intellectual property development and licensing company, today announced the Company's official name has been changed from California Gold Corp. to MV Portfolios, Inc. The Company also effectuated a reverse stock split on the Company's common stock at a ratio of 100 for 1. The Company's stock ticker symbol has been changed to "CLGLD" for a period of 20 trading days commencing September 8, 2014. After 20 days, the Company's common stock will trade under the Company's new symbol "MVPI."
William Meadow, Founder and President of MV Portfolios commented, "I am pleased to announce that we have officially changed our name and received a timeline to begin trading under our new stock symbol 'MVPI'. We believe that aligning our name and symbol with our underlying business is integral as we move forward building brand credibility in the marketplace by seeking to create value through academic innovation and monetization of intellectual property. Today we are focused on moving forward with our previously announced lawsuit against Google claiming infringement of our location based service and geospatial information technology intellectual property. Additionally, we are evaluating the intellectual property of leading U.S. and international universities to develop their innovation and provide ongoing resources and expertise in monetization. We look forward to continuing to build our brand within the industry and informing investors about the MV Portfolios investment opportunity."
About MV Portfolios, Inc.:
MV Portfolios, Inc. is a patent monetization company designed to assist universities and inventors with their mobile applications and smartphone technology IP. MVP holds a series of patents related to street level imaging and location based services. The company has extensive knowledge, resources and experience in creating strategic distribution channels to reap the hidden value of university innovations. For more information please visit www.mvportfolios.com.
Safe Harbor Statement:
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "anticipate," "plan," "will," "intend," "believe" or "expect'" or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations with respect to our lack of profitable operating history, changes in our business, potential need for additional capital, fluctuations in demand; changes to economic growth in the U.S. economy; and government policies and regulations, including, but not limited to those affecting the Internet, all as set forth in our Annual Report on Form 10-K and most recent Form 10-Q. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of California Gold Corp. and are difficult to predict. California Gold Corp. undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
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Source: California Gold Corp.