Park Place Energy announced that the Company's board of directors has approved a consolidation of the Company's common stock to be effected in the form of a reverse split, which is to be effective as of March 24, 2010, subject to authorization from the Financial Industry Regulatory Authority (FINRA).
As a result of the reverse stock split, the shareholders at the effective time of the reverse split will receive one new share of the Company's common stock in exchange for every three hundred shares held.
The reverse split has been filed and accepted by the Nevada Secretary of State and has been filed with FINRA.
The Company also announces that on January 15, 2010 and March 9, 2010 the Company completed debt settlement agreements with a total of 10 debt holders whereby the Company issued an aggregate of 419,448,910 shares in settlement of debt totaling US$419,448.91.
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