SURABAYA, INDONESIA — (Marketwired) — 08/06/13 — (OTCQB: CLRVD) (OTCQB: CLRV) (“Claridge,” Indo Global,” or the “Company”), is pleased to announce it has received approval from the Financial Industry Regulatory Authority (“FINRA”) that effective August 6, 2013, the Company has changed its name from “Claridge Ventures, Inc.” to “Indo Global Exchange(s) Pte., Ltd.”
The Name Change was effected by filing a certificate of amendment with the Nevada Secretary of State and receipt of approval from FINRA. Additionally, the Company simultaneously received approval from FINRA to complete a 1-for-4 reverse stock split of all of its issued and outstanding shares common stock (from 289,975,000 to 72,493,750) together with a corresponding reduction in the number of authorized shares of the Company-s common stock. The Name Change and Reverse Split were duly approved by the Board of Directors of the Company on July 24, 2013.
The Company-s post-Reverse Split common stock has a new CUSIP number, 45579B101. The Company-s transfer agent, Holladay Stock Transfer, is acting as exchange agent for the Reverse Split and will send instructions to stockholders regarding the exchange of certificates.
In connection with the Reverse Split, FINRA has assigned the Company the new symbol of “CLRVD,” such “D” to be removed 20 business days from the open of business on August 6, 2013, or September 4, 2013. In connection with the Name Change, FINRA assigned the Company a new stock symbol, “IGEX,” with such new symbol to be effective September 4, 2013.
Additional details of the Company-s business, finances, appointments and agreements can be found as part of the Company-s continuous public disclosure as a reporting issuer with the Securities and Exchange Commission (“SEC”) available at .
(OTCQB: CLRVD)
As previously reported, the Company entered into a stock exchange agreement with Indo Global Exchange PTE LTD., a company organized under the laws of Singapore (“Indo Global Singapore”) on July 17, 2013.
Upon the closing of the voluntary share exchange transaction as contemplated by the stock exchange agreement, the Company will issue certain shares of its common stock in exchange for 100% of the issued and outstanding capital stock of Indo Global Singapore which will then become the Company-s wholly owned subsidiary, and the Company will acquire the business and operations of Indo Global Singapore.
With the virtually untapped Indonesian population of over 240,000,000 individuals as its initial market focus, Indo Global Singapore is positioning itself at the forefront of Asian entry into the Global Financial Market services sector through the support of partner relationships with noteworthy licensed suppliers of sophisticated global trading platforms in Equities, Cfd-s, Derivatives, Commodities, Energies, Foreign Exchange and Options.
This news release contains “forward-looking statements.” Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the change in stock symbol, closing of the exchange transaction, references to market positioning, partner relationships, products offered, the potential success of its business model and adoption of any products and services. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing a new business and operating as a development stage company, our ability to raise the additional funding we will need to continue to pursue our business and development plans, potential competition in the industry in which we operate and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at .
On Behalf of the Board,
John F. O-Shea, President & CEO
Indo Global Exchange(s) Pte, Ltd.
Indo Global Exchange(s) Pte, Ltd.
Phone: +62 31 7329393 ext. 316
Email:
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