VANCOUVER, Nov. 30, 2012 /CNW/ - Uracan Resources Ltd. (TSXV: URC) ("Uracan" or the "Corporation") announces that at the October 24, 2012
annual general and special meeting of its shareholders it obtained the
approval of its shareholders to consolidate its outstanding share
capital on the basis of 5 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 attract new equity investment in the Corporation.
The Corporation currently has 142,253,894 common shares issued and
outstanding, and after the consolidation, the Corporation will have
approximately 28,450,778 common shares issued and outstanding. The
Corporation is not expected to change its name in conjunction with the
The completion of the consolidation remains subject to regulatory
Uracan Resources Ltd. (TSX.V:URC, OTC:URCFF) is a Canadian-based
exploration company focused on developing bulk tonnage, near-surface
uranium deposits within its two 100%-owned projects in Quebec and
Saskatchewan, Canada. Since 2006, Uracan has discovered a NI 43-1-1
compliant mineral resource of over 44 million lbs, U30-8. Uracan
continues to actively pursue new opportunities to capitalize on
management's exploration and financing capabilities.
On behalf of the Board of Directors,
Gregg J. Sedun, Chairman & 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.
SOURCE: URACAN RESOURCES LTD.
For further information:
please visit www.uracan.ca