Orestone Announces Proposed Share Consolidation
Orestone Mining Corp. (TSX Venture Exchange–Symbol: ORS) announces that the Company will consolidate the Company’s common shares (“Common Shares”) on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares or at such lower consolidation ratio as may be required by the TSX Venture Exchange (the “Share Consolidation”).
It is management’s view that the Share Consolidation will benefit the Company by increasing investor interest, improving trading liquidity and improving the Company’s ability to raise additional capital at a higher price per Common Share.
As at the date hereof, there are an aggregate of 37,772,233 Common Shares issued and outstanding. It is expected that, upon completion of the Share Consolidation, there will be an aggregate of approximately 7,554,446 Common Shares issued and outstanding.
The completion of the Share Consolidation is subject to obtaining the requisite approval of the TSX Venture Exchange including meeting the minimum distribution requirements.
Further information on the Share Consolidation will be announced at a later date.
Orestone Mining Corp. is a Canadian-based company that controls a portfolio of gold-copper exploration targets in British Columbia, Canada. For more information please visit: www.orestone.ca
ON BEHALF OF ORESTONE MINING CORP.
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,” “will” and similar expressions. Forward-looking information in this news release includes statements about the proposed Share Consolidation. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the receipt of necessary regulatory approvals. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
For further information contact: David Hottman at 604-629-1929 | email@example.com