Cavan Ventures Announces Proposed Share Consolidation
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/12/11 -- Cavan Ventures Inc. ("Cavan" or the "Company") (TSX VENTURE: CVN) announced today that, subject to TSX Venture Exchange acceptance and shareholder approval, it will implement a consolidation of its issued and outstanding common shares on the basis of ten (10) old shares for one (1) new share or such lesser ratio as the board deems appropriate (the "Consolidation"). As at the close of business on November 25, 2011, there were a total of 26,371,176 common shares of the Company issued and outstanding. If the Consolidation is completed, the number of shares outstanding will be 2,637,118, or some greater number, if a consolidation ratio of less than ten (10) to one (1) is chosen by the board of directors. Shareholder approval for the Consolidation will be sought at the upcoming special meeting of shareholders scheduled for January 9, 2012 (the "Meeting"). The Company is pursuing the Consolidation as management believes that the Consolidation will enhance the Company's ability to complete future equity financings.
Additionally, at the Meeting the Company proposes to change its name from "Cavan Ventures Inc." to "CanMetals Exploration Corp." or to such other name as determined by the directors of the Company, and that is acceptable to the British Columbia Registrar of Companies and the TSX Venture Exchange.
About Cavan
Cavan Ventures Inc. is a Vancouver based TSX Venture Exchange-listed junior mining company with acquisitions in Canada and Arizona, USA. The Company's vision is to become a globally diversified resource company with strong focuses in gold, silver, and rare earth elements. Cavan strives to become a mid-tier producer through the acquisition and development of domestic and international mining properties.
On behalf of the Board of Directors:
Andrew Mah, President & Director
For further information please visit our website at .
This news release contains certain forward-looking statements that reflect the current views and/or expectations of management with respect to performance, business and future events. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, those risks relating to changes in the market, potential downturns in economic conditions, fluctuations in the price and supply of raw materials, equipment and skilled labour, fluctuations in the market price of minerals, foreign exchange fluctuations, regulatory requirements and changes thereto, competition, and other risk factors listed from time to time in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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.
Contacts:
Cavan Ventures Inc.
Andrew Mah
President & Director
(604) 783-5328 (cell) or (604) 288-2756
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Datum: 13.12.2011 - 01:49 Uhr
Sprache: Deutsch
News-ID 96165
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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