MONTREAL, QUEBEC–(Marketwired – June 1, 2016) – Stelmine Canada Ltd. (“Stelmine”), (TSX VENTURE:STH) announces that the consolidation of its issued and outstanding common shares on a ten-for-one (10:1) basis as authorized by its shareholders at the special meeting of shareholders held February 11, 2016, will be effective Friday, June 3, 2016 at the commencement of trading. The trading symbol remains unchanged: STH.
As there are currently 40,250,170 common shares outstanding, there will be 4,025,017 post consolidation common shares outstanding, subject to minor adjustments. No fractional shares will be issued as a result of the share consolidation and fractional interests will be rounded up to the nearest whole number. Registered shareholders will receive a letter of transmittal from the Company’s transfer agent, Computershare Investor Services Inc., as soon as practicable. The letter of transmittal will enable registered shareholders to exchange their old share certificates representing pre-consolidation common shares for post-consolidation common shares. Until surrendered, each share certificate representing pre-consolidation common shares will represent the number of whole post consolidation common shares to which the holder is entitled as a result of the consolidation. Shareholders who hold their common shares in brokerage accounts are not required to take any action to effect the exchange of their common shares.
Stelmine, like many other junior exploration companies, has suffered from the market downturn and its share price has hindered its development despite continuous efforts, the consolidation will facilitate future equity financings and acquisitions.
Stelmine Canada Ltd is a junior exploration company registered on the TSX Ventures under the symbol STH.
Neither the TSX Venture Exchange nor the Regulation Services Provider (as defined in the TSX Venture Exchange policies) accepts any responsibility for the truth or accuracy of its content.
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