VANCOUVER, Jan. 16, 2013 /CNW/ - Telson Resources Inc. (TSX VENTURE: TSN) ("Telson" or the "Company") announces that its common shares (Symbol:
TSN) (the "Shares") will be posted for trading at the opening of
business on January 17, 2013, on a one-for-eight consolidated basis
(the "Consolidation"), resulting in 26,636,584 issued and outstanding
Shares, under the new CUSIP number 87973V 10 1. The Consolidation was
previously announced on December 24, 2012 and was approved by the
shareholders of Soho on December 21, 2012.
No fractional Shares will be issued in connection with the
Consolidation. If, as a result of the Consolidation, a shareholder
becomes entitled to a fractional Share, such fractional Share will be
rounded up to the nearest whole number if 0.5 or greater and down to
the nearest whole number if less than 0.5.
Letters of Transmittal will be mailed to all registered shareholders
requesting them to deposit their duly completed Letters of Transmittal,
together with their pre-consolidated share certificates, to
Computershare Trust Company of Canada, at its principal office in
Vancouver, in exchange for share certificates representing the number
of consolidated Shares to which they are entitled.
About Telson Resources Inc.
Telson Resources Inc. is an exploration and development company
strategically focused on gold, silver and base metals in the prolific
Sierra Madre Belt of Mexico. The Company holds 99.4% of the outstanding
shares of its Mexican subsidiary company that maintains 100% ownership
in 9,081 hectare Tahuehueto Property, an advanced stage gold and base
metal exploration and development project where the Company delivered a
robust Preliminary Economic Assessment ("PEA") on October 4, 2010. Key
findings from the report included:
Summary of PEA Estimates
Net cash flow
$US 184.2 million
Net Present Value (NPV) 5% discount
$US 109.6 million
Internal rate of return %
Maximum processing rate
Capital and start-up costs
$US 89.1 million
Note: Calculations based on a 3 year rolling average of metal
prices at the end of August 2010.
Currency US$ Gold: 965.81, Silver: 15.38, Copper: 2.92,
Lead: 0.95, Zinc: 0.88
Telson also holds an option to purchase 100% interest in the 4,332
hectare Jocuixtita Silver Project where the company has recently
conducted a first stage exploration drilling program.
ON BEHALF OF THE BOARD OF DIRECTORS
(signed) "Ralph Shearing"
Ralph Shearing, President/CEO
"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."
WARNING: The Company relies upon litigation protection for
"forward-looking" statements. This News Release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of up-coming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently anticipated
in such statements.
SOURCE: Soho Resources Corp.
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