Stock Updates On Crwe, Orfg, Gmxr And Cyn From Pennytobuck.com
Crown Equity Holdings Inc
Crown Equity Holdings Inc. (OTCBB:CRWE) announces that its sales this year have already surpassed $1,000,000. This compares to $232,510 for the three quarters ending September 30, 2009 and $ 659,907 total sales for the year 2009.
"Based on our sales to date, we had more than 4 times the sales for the same period last year and are 34% ahead of last year's total sales," commented Kenneth Bosket, President and CEO of Crown Equity Holdings Inc. "Our growth in sales along with our investments in infrastructure and people give the company a basis for supporting future growth of the magnitude we have seen so far this year," stated Bosket.
GMX RESOURCES INC. (NYSE:GMXR) (visit www.gmxresources.com ) announced a reduction in capital expenditure guidance for 2011 and 2012 down from $200 million in each year to $175 million in each year. Capital expenditure guidance for 2010 remains unchanged at $175 million. GMXR's current plan is to continue to run a two rig program. Based on increases in well performance, previously announced production guidance remains unchanged at 17.5 to 19.0 Bcfe for 2010, 28.0 to 30.0 Bcfe for 2011, and 32.0 to 34.0 Bcfe for 2012.
Orofino Gold Corportion (Pink Sheet:ORFG) is a new high growth gold company whose mandate is to acquire, explore and develop to compliant proven reserves major gold targets in historically rich gold bearing jurisdictions of Mexico and Colombia two of the most significant gold producing countries in the world. To this end OROFINO has signed an option agreement to acquire several properties in Colombia.
City National Corporation (NYSE:CYN) announced the pricing of a registered underwritten public offering of $300 million of 5.25 percent senior notes due September 15, 2020. The notes are to be sold at a price of 99.738 percent of the principal amount and will pay interest semi-annually. The offering is expected to close on September 13, 2010, subject to the satisfaction of customary closing conditions. City National intends to use most of the net proceeds from this offering for the redemption of $250 million of 9.625 percent cumulative trust preferred securities that were issued by the company on December 8, 2009. The company intends to use the remaining proceeds for general corporate purposes.
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by: Bill Pennyman
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