Southern Arc Announces Share Consolidation
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 30, 2015) - Southern Arc Minerals Inc. (TSX VENTURE:SA) ("Southern Arc" or the "Company") announces that it has received approval from the TSX Venture Exchange for the previously announced consolidation of its common shares on a ten for one (10:1) basis. The Company's common shares will begin trading on a post-consolidated basis on the TSX Venture Exchange on October 1, 2015. The Company's name and trading symbol will remain unchanged.
The Company currently has 109,214,510 common shares issued and outstanding. Following the consolidation, the Company will have approximately 10,921,449 common shares issued and outstanding. No fractional shares will be issued. All fractional shares resulting from the consolidation will be rounded down to the nearest whole number of common shares.
Registered shareholders will receive a letter of transmittal from the Company's transfer agent, Computershare Trust Company of Canada, after the effective date of the consolidation. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or DRS statements representing pre-consolidation common shares for new share certificates or DRS statements representing post-consolidation common shares. No action is required by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the consolidation.
On behalf of the Board of Southern Arc Minerals Inc.
John Proust, Executive Chairman & Chief Executive Officer
About Southern Arc Minerals
Southern Arc Minerals Inc. is a Canadian mineral exploration company focused on gold and copper-gold exploration. The Company is advancing two properties in Indonesia: West Lombok, a resource-stage property with several gold rich copper porphyry and epithermal gold vein prospects, and East Elang, a grassroots exploration property that will be advanced in partnership with Vale International SA. Southern Arc also owns nearly 7% of Oban Mining Corp., which is advancing the high-grade Windfall Lake Gold Project in Quebec, Canada, and has applied for 38 exploration licenses in Northern Japan in an underexplored area with known gold occurrences and a history of mining. More information is available at www.southernarcminerals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the word "will" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Southern Arc believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.
Contact
Southern Arc Contact
Rhylin Bailie, Vice President,
Communications & Investor Relations
604-609-6147
info@southernarcminerals.com
