Pacific Potash Completes Share Consolidation
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/14/15 -- Pacific Potash Corporation (TSX VENTURE: PP) ("Pacific Potash" or the "Company") announces that it has received the approval from the TSX Venture Exchange (the "Exchange") to its proposed consolidation of its common shares (each, a "Share") on the basis of ten (10) pre-consolidation Shares for one (1) post-consolidation Share (the "Consolidation"). Effective at opening on September 14, 2015, the Company's Shares will commence trading on the Exchange on a consolidated basis under a new CUSIP number 694781204 and ISIN CA 6947812047. The 119,300,396 Shares currently issued and outstanding will be reduced to 11,930,040 Shares upon the Consolidation. The Company's name and trading symbol will remain the same.
Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders requesting them to send their pre-consolidated share certificates with a properly executed letter of transmittal to the Company's transfer agent, Computershare Trust Company of Canada, in accordance with the instructions provided in the letter of transmittal, to receive post-consolidation share certificates.
No certificates representing fractional Shares will be issued in connection with the Consolidation and, in the event a shareholder would otherwise be entitled to receive a fractional Share in connection with the Consolidation, the number of Shares to be received by such shareholder shall be rounded to the next lowest whole number of Shares and no cash amount shall be payable in respect of such fractional shares.
The Company will also be consolidating its outstanding options and warrants on a ratio of ten (10) to one (1), with the result that each consolidated option and warrant will entitle the holder to acquire one Share at an exercise price of ten (10) times its original exercise price. Pursuant to the terms of the outstanding options and warrants, the Company is not obligated to issue factional Shares upon exercise of any such options or warrants and, therefore, any Shares issuable post-consolidation upon the exercise of any outstanding options or warrants shall be rounded down to the nearest whole Share.
On behalf of the Board,
Pacific Potash Corporation
Tao Liu, Chief Executive Officer and Director
Additional information about the Company is available on SEDAR at .
Neither the 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.
Forward-Looking Statements
This News Release includes certain "forward-looking statements". In this news release, such forward-looking statements include statements regarding the ability of the Company to complete the Consolidation. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are beyond our control and could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not necessarily limited to, those set forth under "RISK FACTORS" in the Company's current MD&A, a copy of which can be found on SEDAR at .
Contacts:
Pacific Potash Corporation
Tao Liu
Chief Executive Officer and Director
604-442-8858
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Datum: 14.09.2015 - 16:33 Uhr
Sprache: Deutsch
News-ID 419869
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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