Copper North Announces Share Consolidation Effective Date
VANCOUVER, BC--(Marketwired - May 31, 2016) - Copper North Mining Corp. ("Copper North" or the "Company") (TSX VENTURE: COL) announces that the previously announced consolidation (the "Consolidation") of its common shares (the "Common Shares") on the basis of (1) post-Consolidation Common Share for every ten (10) pre-Consolidation Common Shares will be effective June 1, 2016 and trading of the Common Shares will commence on a consolidated basis on the TSX Venture Exchange (the "TSXV) at the opening on June 1, 2016.
The Consolidation has been approved by the TSXV. The related bulletin was issued by the TSXV on May 31, 2016. Following the Consolidation, the Company will have 18,324,925 Common Shares outstanding.
The Company's outstanding stock options and warrants will also be adjusted on the same basis (10:1) as the Common Shares, with proportionate adjustments being made to exercise prices.
A letter of transmittal will be mailed to shareholders on June 1, 2016 advising that shareholders should surrender their existing share certificates (representing pre-Consolidation Common Shares) for replacement share certificates (representing post-Consolidation Common Shares). Until surrendered, each existing share certificate will be deemed, for all purposes, to represent the number of Common Shares to which the holder thereof is entitled as a result of the Consolidation.
On behalf of the Board of Directors:
Dr. Harlan Meade
President, CEO and Director
About Copper North
Copper North is a Canadian mineral exploration and development company. Its assets include the Carmacks Project located in the Yukon, the Redstone Property located in the Northwest Territories, and the Thor Property in British Columbia. Copper North trades on the TSX Venture Exchange under the symbol COL.
This news release includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the effective date and the completion of the Consolidation. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the timeliness and success of regulatory approvals, general economic, market or business conditions, and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that the Consolidation will proceed as planned.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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.
Contact
For Further Information
Dr. Harlan Meade
President and Chief Executive Officer
Tel: 604.398.3451
Email: info@coppernorthmining.com
Web: www.coppernorthmining.com
