KATX announced today that along with the 50,000,000 restricted shares, in which a private group of investors who recently funded the company with up to $5 million, the decision to retire and eliminate an additional 300,000,000 shares from its treasury of authorized shares of which the new amount of authorized shares will be 730,000,000 shares. The reason behind this was the thoughts that this reduction will further enhance and solidify shareholder confidence with its secondary directions.
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KAT Exploration, Inc. engages in the exploration and development of mineral properties in Newfoundland and Labrador, Canada. It focuses on the Sediment-Hosted Copper Deposits in the eastern portion of Newfoundland.
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