SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) May 6, 1998
BRUSH CREEK MINING AND DEVELOPMENT CO., INC.
(Exact name of Registrant as specified in its charter)
NEVADA 0-12761 88-0180496
(State or other (Commission (I.R.S. Employer
jurisdiction of file number) Identification
incorporation or Number)
organization)
970 East Main Street
Suite 200
Grass Valley, California 95945
(Address of principal (Zip Code)
executive offices)
Registrant's telephone number, including area code: (530)477-5961
<PAGE>
Item 5. Other Events.
On May 6, 1998, Brush Creek Mining and Development Co., Inc.
(the "Company") announced that its Board of Directors had approved a
one-for-ten reverse stock split of its outstanding shares of Common
Stock. The Company announced that the reverse stock split would be
effective with the close of business on May 7, 1998 and the shares
would begin trading on a post-split basis effective on May 8, 1998.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
The following exhibit is filed herewith:
99.1 Press release dated May 6, 1998
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
BRUSH CREEK MINING
AND DEVELOPMENT CO., INC.
(Registrant)
Date: May 6, 1998 By:/s/James S. Chapin
James S. Chapin,
Chief Executive Officer
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
For Further Information Contact:
Lionel Gosselin - (888) 272-7335
Jim Chapin - (530) 477-5961
BRUSH CREEK ANNOUNCES REVERSE SPLIT
COMPANY MOVES TO MAINTAIN NASDAQ LISTING
GRASS VALLEY, CA (May 6, 1998) - Brush Creek Mining and Development
Co., Inc. (NASDAQ: BCMD) (the Company) today announced that its Board
of Directors had approved a one for ten reverse stock split of its
outstanding shares of common stock. The reverse stock split will be
effective with the close of business on May 7, 1998 and the shares
will begin trading on a post-split basis effective on May 8, 1998.
James S. Chapin, CEO and Chairman of the Board stated, "After careful
consideration of the alternatives, the Board decided that it is in
the best interest of shareholders to maintain the Company's NASDAQ
listing. Among the many reasons the listing is so critical is that
far more brokers and other investment professionals are able to
invest in a NASDAQ listed Company than one listed on the Bulletin
Board." New rules adopted by NASDAQ require companies to maintain a
minimum bid price of $1 per share.
Chapin added, "In addition to preserving our listing, the stock's
higher price will enable a wider range of brokers, who are prohibited
from purchasing low price stocks, to consider investing. It will
also bring us closer to our goal of having a marginable security and
qualifying for NASDAQ's NMS listing."
Brush Creek controls nine historic mines in the Alleghany-Downieville
gold district of Northern California, which produced more than 12
million ounces of placer and 2 million ounces of hard rock gold. It
also controls more than 4000 acres of potentially diamondiferous
ground near La Porte, California.
