GRAND FORKS, N.D.--(BUSINESS WIRE)--China Youth Media, Inc. (OTCBB: CHYU) announced that effective as of October 7, 2011 it has changed the name of the company to “Midwest Energy Emissions Corp.” (the “Name Change”) and effected a reverse stock split of all outstanding shares of common stock at an exchange ratio of one for one hundred ten (1:110) (the “Reverse Split”).
Due to the Reverse Split, effective as of the opening of trading on October 7, 2011, FINRA will place a “D” on the ticker symbol for 20 business days to signify that the Reverse Split has occurred. As a result, effective as of the opening of trading on October 7, 2011 and for the next 20 business days, the company will trade under the symbol “CHYUD”.
With the effectiveness of the Reverse Split, every one hundred ten shares of issued and outstanding common stock has automatically been combined into one share of common stock. Any fractional shares resulting from the Reverse Split are being rounded up to the next nearest whole share. The number of authorized shares of common stock has also been reduced from 500,000,000 to 100,000,000.
Holders of shares of common stock are not required to exchange their certificates representing shares of common stock held prior to the Reverse Split and Name Change for new certificates representing shares of common stock resulting from the Reverse Split and Name Change. If, however, a stockholder wishes to exchange such stockholder’s certificates, the stockholder may do so by surrendering its certificate to the Company’s transfer agent with a request for a replacement certificate and the appropriate stock transfer fee.
In addition, as a result of the Reverse Split and the amendment to the company’s certificate of incorporation that has been filed in Delaware to effectuate the Reverse Split, the company’s outstanding shares of preferred stock have automatically converted into shares of common stock.
As previously reported, the Name Change is in line with the company’s shift in business focus resulting from the completion of the merger effected on June 7, 2011 with Midwest Energy Emissions Corp., a North Dakota corporation and now known as MES, Inc.
About Midwest Energy Emissions Corp.
We develop and deliver patented, cost effective mercury capture systems and technologies to power plants and other coal-burning units in the United States and Canada. Rather than simply selling different types of activated carbon, we take a holistic view of the mercury emissions problem. We provide proprietary technology that allows customers to meet emissions regulations in the most effective and economical manner, with the least disruption to their ongoing operations. With a strong focus on continuous innovation and industry foresight, we deliver customer value and strengthen the communities in which we do business.
For more information, please visit http://www.midwestemissions.com
Forward-Looking Statements
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as “expects”, “should”, “believes”, “hopes”, “anticipates” or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in the Midwest Energy Emissions Corp. (formerly China Youth Media, Inc.) filings with the Securities and Exchange Commission, including its annual report on Form 10-K and quarterly reports on Form 10-Q. These forward-looking statements are only made as of the date of this press release and Midwest Energy Emissions Corp. does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.