Expedition Mining Approves Share Consolidation
04 6월 2014 - 11:00PM
Marketwired
Expedition Mining Approves Share Consolidation
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 4, 2014) -
Expedition Mining Inc. (the "Company") (TSX-VENTURE:EXU) announces
that the Board of Directors has approved a resolution consolidating
the Company's share capital on the basis of every five (5) shares
of the Company being consolidated to one share, or to such
consolidation ratio as may be acceptable to the regulatory
authorities and approved by the directors of the Company.
Currently, the Company's authorized share capital is an unlimited
number of common shares without par value, of which 58,336,789
shares are issued and outstanding, with a further 5,640,000 shares
reserved for issuance upon the exercise of existing stock
options.
The Board of Directors believes that the share consolidation
will provide the Company with greater flexibility in pursuing its
plans to advance its mineral exploration projects and to conclude
financings required by the Company.
The Company does not intend to undergo a name change in
conjunction with the proposed consolidation. Upon completion of the
share consolidation, it is expected that on the basis of a 5:1
share consolidation, there will be approximately 11,667,358 common
shares issued and outstanding, subject to shares being issued
pursuant to existing stock options prior to the effective date of
the consolidation and subject to adjustment for fractional
shares.
The proposed share consolidation is subject to TSX Venture
Exchange acceptance.
The Company also reports the resignation of John Watt as a
director of the Company. "Mr. Watt has served on the Company's
Board of Directors since December 2011," said Ronald Atlas,
President and Chairman of the Board, "and, on its behalf, I would
like to thank John Watt for his outstanding service to the Company
and wish him every success in his future endeavours."
Expedition Mining Inc. (TSX-VENTURE:EXU) is a publicly held
Canadian exploration company focused on acquiring, exploring and
developing gold properties located in favourable geo-political
climates. The company is led by a highly skilled, experienced board
and management team with significant successes in managing early
stage mineral exploration companies. For additional information
concerning Expedition Mining Inc. or its various exploration
projects please visit Expedition's website at
www.expeditionmining.com.
ON BEHALF OF THE BOARD:
Ronald Atlas, President & Chairman of the Board
Expedition Mining Inc.
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.
Standard &
Poor's Listed
Issued Share
Capital: 58,336,789
Expedition Mining Inc.William Galine(604)
662-3903bgaline@expeditionmining.comwww.expeditionmining.com
(TSXV:EXU)
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