LONDON, Oct. 10, 2012 /PRNewswire/ -- TagLikeMe Corp. ("TagLikeMe" or "the Company") (OTCQB:TAGG) announces that as a result of inquiries made by the British Columbia Securities Commission ("BCSC"), the Company is making the following news release:
- The Company has experienced a significant increase in trading volume over the past week accounting for a total trading volume of 467,202,800 shares. During that same period there have been no changes in the Company's affairs that warranted such an increase.
- There are no promotional efforts being made by the issuer or its officers, directors or employees and all material information regarding the issuer and its product have been disclosed by the issuer in its public filings, in press releases, or on its website at www.taglikemecorp.com.
- Neither the issuer, nor any of its officers and directors are aware of any activity (corporate or otherwise), investor relations activity or a promotional campaign that may be responsible for the increase.
- Neither the issuer, nor any of its officers and directors are aware of anyone who is funding a promotional campaign, running a promotional campaign or proposing to do so in connection with the Company.
Under the request of the BCSC, the shares of TagLikeMe Corp. are halted for trading in British Columbia while the Commission carries out further investigation into the nature of the trading.
The Company cautions investors to rely only on information regarding the issuer coming from its public filings made with the Securities and Exchange Commission and on SEDAR, in our press releases or on the corporate website.
For more information see www.TagLikeMeCorp.com.Cautionary Statement Regarding Forward-Looking Information This press release may contain certain "forward-looking statements" relating to the business of TagLikeMe Corp.. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding the advantages of TagLikeMe's products and services, anticipated advantages resulting from the merger, whether funding anticipated from completing the merger will result,, successful completion and development of the social media component of the business and its market acceptance, the business strategy, plans and objectives of the Company and TagLikeMe Corp.; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects", "intended" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results and ultimate corporate actions could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the perception of investors of the newly merged company and their willingness to fund this newly public company, the demand for a social media site and viability of it for advertising, new products and services developed by other companies, market share garnered by competitors, ability to maintain customer and vendor relationships, and those factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov), among other factors. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. SOURCE TagLikeMe Corp.