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Real Estate News Releases
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(EMAILWIRE.COM, August 31, 2011 ) Belize City, Belize -- Min $4.00 price required for uplisting to listed exchange.
BRYN share cancellation is in preparation of uplisting to a higher exchange – listed exchange requires a min of $4 - a huge appreciation in price from todays close. With BRYN pulling off this monster cancellation, investors are quite eager to see what other surprises the company has up their sleeves. Be sure that this already got the shorts dazed and confused as to what to do with their huge short position.
If you recall xtremepicks.com's previous alert on BRYNÂ’s short position, this news will certainly get them scrambling even more!
Xtremepicks have identified 2 different short groups on BRYN
In monitoring the short volume situation, xtremepicks identified two different short positions stuck in BRYN with only one out – push the price up and cover.
What was identified is a new group of recent shorts caught off guard a few weeks back and from xtremepicks original alert at $0.041. They estimate this first group of shorts are in for about 3-4 million shares short looking to cover their position.
This is just part of the good news, an even larger short group exists from the original run up in 2009 when it hit a high of $0.87. Xtremepicks.com estimates of the 25 Million shares short volume recorded by buyins.net, this group still holds approximately 10 to 12 Million shares short.
Both groups looks to have an average short price of $0.20 and have been getting deeper by the day.
This on its own will soon trigger a short covering as BRYN continues to release significant updates. What has also been discovered, is that there is only approx 8-9 Million in DTC (shares held by brokerage firms and eligible for short sellers to use to sell short). So, do the math - approx 14 Million shares short, and only 9 million shares available to be shorted – sounds like the shorts are in a bit of a predicament and are stuck big time.
With what BRYN has already announced and more expected surprises to come, we are looking solid at hitting xtremepicks's near term price target of $1.25.
BRYN hit a 2-week high of $0.23 and looks like todayÂ’s news is a start of some more pleasent surprises to come. ItÂ’s bye bye for the shorts and hello to dollar land.
BRYNÂ’s is on a tear from when they released their first press release this year and members are reaping the rewards which continue to be over 400% and looks like shareholders are headed for much more with todayÂ’s monster news!
Bryn Resources Inc. Cancels 59,000,000 Restricted Shares.
Bryn Resources Inc. (PINK: BRYN) (PINKSHEETS:BRYN.PK – News) is pleased to announce that in an effort to increase shareholders value and in preparation of up-listing to a higher exchange, it has approached key shareholders who agreed to reduce their holdings by cancelling 59,000,000 restricted shares held by them. The cancellation will reduce the overall outstanding shares to 55,766,260.
Bryn Resources Inc. has also identified 1 (one) shareholder, Bastille Advisors Inc, that will have an equity position of greater than 10% and as a result, its shares will be restricted and reported in the companyÂ’s quarterly financials. This will in effect reduce the companyÂ’s float by 6.55 Million shares to 18,704,817.
The company continues as planned working on their interest in Nova Scotia and will provide further updates to its shareholders shortly.
About Bryn Resources Inc.
Bryn Resources is a precious metals exploration company currently concentrating its efforts in Eastern Canada region holding 100% interest in Renfrew Nova Scotia that comprises of 62 Claims covering 2,480 acres, and 100% interest in Wine Harbour, Nova Scotia. These claims have historically demonstrated their mineralization and in the period between 1862 and 1939 yielded 42,726 ounces of gold from 83,000 tons of ore, for an average content of 0.52 ounces per ton. Bryn Resources Inc. continues to seek partnerships in proven mineralization which are close to the production phase.
If you have not done so already, be sure to read BRYNÂ’s latest research report and price targets at http://www.xtremepicks.com/reports/bryn.
Xtremepicks.com your trading connection and remember to always do your own research, use stop loss orders to protect yourself, and book your profits when in a position to do so.
Xtremepicks.com profiles are not a solicitation or recommendation to buy, sell or hold securities and is not offering securities for sale. Verify all claims and do your own due diligence. Xtremepicks did not receive any compensation for BRYN and may buy BRYN in the open market. An offer to buy or sell can be made only with accompanying disclosure documents and only in the states and provinces for which they are approved. Click here to view the full disclaimer
Directglobalmedia.com
Max Gordon
6479227508
contact@directglobalmedia.com 
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