VANCOUVER, Aug. 3, 2016 /CNW/ - Alternative Earth Resources Inc. (the "Company" or "AER") (TSX.V: AER) announced that the Company is proceeding with the share consolidation, on the basis of two (2) old shares for one (1) new share (the "Consolidation"), as approved by the directors at a meeting held on July 26, 2016. As a result of the Consolidation, the 26,132,119 common shares which are currently issued and outstanding will be reduced to 13,066,059 shares.
The effective date for the Consolidation will be Friday, August 5, 2016 (the "Effective Date"). The post-Consolidation common shares of the Company will commence trading on the TSX Venture Exchange at the opening of the market on the Effective Date.
Letters of transmittal describing the process by which shareholders may obtain new share certificates representing their consolidated common shares will be mailed to the registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their own name will not be required to complete a letter of transmittal. No fractional shares will be issued under the Consolidation and any fraction will be rounded down to the nearest whole number.
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 Alternative Earth Resources Inc.
For further information: Information Contact: Brian D. Fairbank, P. Eng. President & CEO, http://www.alternative-earth.com, Telephone: 604-688-1553, Toll Free: 866-688-0808, Email: firstname.lastname@example.org; AER Investor Inquiries: Telephone: 604-688-1553, Toll Free: 866-688-0808, Email: email@example.com