VANCOUVER, Dec. 6, 2012 /CNW/ - Uracan Resources Ltd. (the "Company") (TSXV: URC) announces that it will proceed with its proposed share consolidation
(the "Consolidation"), as announced in its press release dated November
30, 2012, on the basis of five (5) 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 October 24, 2012, and will be effective at the
open of the market on December 7, 2012 (the "Effective Date").
The Company currently has 142,253,894 common shares issued and
outstanding. As at the Effective Date, the Company will have
approximately 28,450,778 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
91688U200. The Company's common shares will continue to trade on the
TSX Venture Exchange under its current symbol "URC".
Registered shareholders will receive a letter of transmittal from
Computershare Investor Services Inc., the Company's transfer agent,
with information on how to replace their old share certificates with
the new share certificates. Brokerage firms will handle the replacement
of share certificates on behalf of their shareholders' accounts.
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, U3O8. Uracan continues to actively pursue new opportunities to capitalize
on management's exploration and financing capabilities.
On behalf of Uracan Resources Ltd.
"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:
Or visit us at www.uracan.ca