Stellar Pacific Ventures Inc.: Shareholder Distribution
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 05/08/12 -- Stellar Pacific Ventures Inc. (TSX VENTURE: SPX) ("Stellar" or the "Corporation") The Board of directors is pleased to announce that the distribution of the 16,500,000 shares of TomaGold Corporation ("TomaGold") to its shareholders, was completed May 4th 2012. The shares were distributed on a pro rata basis, as a return of capital.
Each shareholder of record, April 30, 2012 (the "Record Date"), has received, or will receive, a portion of the 16,500,000 TomaGold shares on the basis of: 0.1268 of a share of TomaGold for each share owned in Stellar. The distribution ratio was revised on the Record Date, and based on the 130,124,269 shares issued and outstanding in the capital of Stellar. The recent increase in the share capital is attributed to the exercise of convertible securities.
Stellar will consider the deemed fair market value for each TomaGold share distributed to be 0.29$ and will consequently reduce its stated capital by an amount equal to the aggregate value of the TomaGold shares distributed. Shareholders should refer to the Management Information Circular dated June 30, 2011 (available at ) for more information on the transaction and tax considerations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results and events may differ materially from those currently anticipated in such statements.
Contacts:
Maurice Giroux
President and CEO
514-866-6299
514-866-8096 (FAX)
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Datum: 08.05.2012 - 19:39 Uhr
Sprache: Deutsch
News-ID 144118
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contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Mining & Metals
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