TSX Venture Exchange: CQV
ST. JOHN'S, March 6, 2013 /CNW/ - Canadian Imperial Venture Corp.
("CIVC" or the "Company") announces that it is proceeding with the
share consolidation, on the basis of ten (10) old shares for one (1)
new share (the "Consolidation"), as was approved by shareholders at the
Annual and Special meeting held on December 14, 2012. As a result of
the Consolidation, the 519,588,361 common shares which are currently
issued and outstanding will be reduced to 51,958,836 common shares.
The Consolidation should be effective within the next two weeks.
Subsequent to the Consolidation the Company will arrange for a private
placement. Insiders of the Company may participate in the private
placement and their participation may be funded, in part, by sales that
they have made of their existing shares of the Company in the market.
The board of directors of the Company believes that in order to
facilitate access to additional financing that is required for the
further exploration of the Company's property, it is necessary to
effect the Consolidation.
CANADIAN IMPERIAL VENTURE CORP.
Gerard Edwards, President and CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ACCURACY OF THIS PRESS RELEASE.
This release includes certain forward looking statements which reflect
beliefs, expectations, objectives and goals which are believed to be
reasonable at the time such statements are made. Actual results could
differ materially from anticipated results and may be impacted upon
such factors as commodity prices, political developments, legal
decisions, market and economic conditions, industry competition, the
weather, changes in financial markets and changing legislation.
SOURCE: CANADIAN IMPERIAL VENTURE CORP.
For further information:
Canadian Imperial Venture Corp.
P.O. Box 6232, Stn. "C"
St. John's, NL A1C 6J9
Tel.: (709) 739-6700 / Fax: (709) 739-6605
E-mail: email@example.com / website: www.canadianimperial.com