This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pershing Gold Corporation's Resale S-1 Registration Statement Becomes Effective Permitting Continental Resources Group, Inc. To Finalize Its Dissolution

LAKEWOOD, Colo., Feb. 13, 2013 (GLOBE NEWSWIRE) -- Pershing Gold Corporation ("Pershing") (OTCBB:PGLC) and Continental Resources Corporation ("Continental") (OTCBB:CRGC) today jointly announced that Pershing's Form S-1 Resale Registration Statement has been declared effective by the United States Securities and Exchange Commission ("SEC"). The Registration Statement satisfies a condition allowing for the dissolution of Continental.

Continental has held Pershing shares since July 2011, when Pershing acquired the business and assets of Continental via an asset purchase of substantially all of the assets of Continental in exchange for shares of Pershing common stock equal to a ratio of eight shares for every ten shares of Continental's common stock outstanding.

Consequently, Continental was a controlling shareholder of Pershing from July 2011 through December 31, 2011 and continues to hold significant share ownership. As a result of the effectiveness of the Form S-1 Registration Statement, Continental is planning to proceed with its plan of liquidation, including the distribution of Pershing shares, on a pro rata basis to Continental shareholders as of a record date set by Continental. Continental expects to complete the distribution as soon as practicable. 

Neither Pershing nor Continental are issuing any new share capital via this Registration Statement and will not receive any proceeds from the sale of the registered shares.

A copy of the Form S-1 Resale Registration Statement can be viewed at the address below: .

This press release shall not constitute an offer to issue or sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Pershing Gold Corporation

Pershing Gold Corporation is a new gold exploration and development company focusing on acquiring, exploring, and developing gold deposits in Pershing County and elsewhere in Nevada. The Relief Canyon Mine property in Pershing County is owned by Gold Acquisition Corp., the Company's wholly owned subsidiary.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs