Royce Resources Corp. Announces Proposed Share Consolidation
VANCOUVER, Sept. 18, 2013 /CNW/ - Royce Resources Corp. ("Royce" or the "Company") (TSXV: ROY.H) announces that it has convened a meeting of its shareholders to be held on October 17, 2013 at which it will seek shareholder approval to its proposed share consolidation.
The Corporation will be seeking, by special resolution, the approval of its shareholders to consolidate its outstanding share capital on the basis of 10 pre-consolidation shares for 1 post-consolidation share. The reasons for the consolidation are to increase the Corporation's flexibility and competitiveness in the market place and to make the Corporation's securities more attractive to a wider audience of potential investors.
The Corporation currently has 100,290,612 common shares issued and outstanding, and after the consolidation, the Corporation will have approximately 10,029,061 common shares issued and outstanding. The Corporation is not expected to change its name in conjunction with the consolidation.
The completion of the consolidation remains subject to shareholder and regulatory approval.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and Director
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SOURCE Royce Resources Corp.For further information:
Chief Financial Officer
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