Trading Symbol: CCY
VANCOUVER, June 5, 2014 /CNW/ - Catalyst Copper Corp. ("Catalyst" or the "Company") (TSX VENTURE:CCY) announces that it will proceed with its proposed share consolidation (the "Consolidation"), as announced in its news release dated April 29, 2014, on the basis of three (3) pre-Consolidation common shares for one (1) post-Consolidation common share. The Consolidation was approved by the Company's shareholders at its Annual General and Special Meeting held on May 26, 2014, and will be effective at the open of the market on Friday, June 6, 2014 (the "Effective Date").
As set out in Section 83 of the Business Corporations Act (British Columbia), if any fractional shares are to be converted into whole shares, each fractional share following conversion that is less than one-half of a share will be cancelled and each fractional share that is at least one-half of a share will be changed to one whole share.
As at the Effective Date, the Company will have approximately 9,284,886 common shares issued and outstanding. The Company will not change its name as part of the Consolidation but will issue new share certificates under a new CUSIP number, which is 14888C309. The Company's common shares will continue to trade on the TSX Venture Exchange under its current symbol "CCY".
The Company is pleased to report that all resolutions put forward by management and the Board of Directors at the Annual General and Special Meeting were ratified by the shareholders of the Company, including the re-election of each of Gordon Keep, David Laing, Matthew Lawson, and John D. Reynolds as Directors of the Company.
Catalyst Copper Corp. further announces that it has retained the services of JDS Energy and Mining Inc. to review the La Verde Project with the objective of identifying potential optimization and value enhancement opportunities.
About Catalyst Copper:
Catalyst Copper Corp. is a copper and base metal company with a focus on copper mining projects in Mexico. Our current focus is the La Verde copper property, which is situated in the Sierra Madre del Sur approximately 320 kilometres west of Mexico City in Michoacán State with excellent infrastructure: roads, rail, water and power. Lazaro Cardenas, Mexico's third largest port on the Pacific Ocean is 180 km from the site. A 43-101 Technical Report dated September 30, 2012 on the La Verde property is filed on Sedar.
ON BEHALF OF THE BOARD OF DIRECTORS OF
CATALYST COPPER CORP.
David Laing – CEO, President & Director
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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: Catalyst Copper Corp.
For further information: Please contact the Company: (604) 609-6110