TORONTO, July 16, 2015 /CNW/ - GPM Metals Inc.
(TSXV:GPM) (the "Company" or "GPM") announces that it has filed
articles of amendment to consolidate the Company's issued and
outstanding common shares on the basis of one (1) new common share
for every two (2) existing common shares, effective as of
July 16, 2015 (the
"Consolidation"). Shareholder approval of the Consolidation
was obtained at the Company's annual and special meeting of
shareholders held on June 24,
2015.
In connection with the Consolidation, the Company has sent
letters of transmittal to holders of its common shares for use in
transmitting their share certificates to the Company's registrar
and transfer agent in exchange for new certificates representing
the number of post-Consolidation common shares to which such
shareholder is entitled as a result of the Consolidation. No
delivery of a certificate evidencing a post-Consolidation common
share of the Company to a shareholder will be made until the
shareholder has surrendered its current issued certificates.
Until surrendered, each certificate formerly representing
pre-Consolidation common shares shall be deemed for all purposes to
represent the number of post-Consolidation common shares to which
the holder is entitled as a result of the Consolidation.
As at July 16, 2015, immediately
following the Consolidation, there were 61,475,358 common
shares of the Company issued and outstanding. The
post-Consolidation common shares will commence trading on the TSX
Venture Exchange effective as of July 17,
2015.
Forward-Looking Statements
This news release contains certain forward-looking statements
and forward-looking information (collectively referred to herein as
"forward-looking statements") within the meaning of Canadian
securities laws. All statements other than statements of historical
fact are forward-looking statements. Undue reliance should not be
placed on forward-looking statements, which are inherently
uncertain, are based on estimates and assumptions, and are subject
to known and unknown risks and uncertainties (both general and
specific) that contribute to the possibility that the future events
or circumstances contemplated by the forward-looking statements
will not occur, including the effective date of trading of the
post-Consolidation common shares. Although GPM believes that the
expectations reflected in the forward looking statements contained
in this press release, and the assumptions on which such
forward-looking statements are made, are reasonable, there can be
no assurance that such expectations will prove to be correct.
Readers are cautioned not to place undue reliance on
forward-looking statements included in this document, as there can
be no assurance that the plans, intentions or expectations upon
which the forward-looking statements are based will occur. By their
nature, forward-looking statements involve numerous assumptions,
known and unknown risks and uncertainties that contribute to the
possibility that the predictions, forecasts, projections and other
forward-looking statements will not occur, which may cause GPM's
actual performance and results in future periods to differ
materially from any estimates or projections of future performance
or results expressed or implied by such forward-looking statements.
The forward-looking statements contained in this news release are
made as of the date hereof and GPM does not undertake any
obligation to update publicly or to revise any of the included
forward-looking statements, except as required by applicable law.
The forward-looking statements contained herein are expressly
qualified by this cautionary statement.
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.
SOURCE GPM Metals Inc.