KELOWNA, BC, June 6, 2013 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (the "Company") announces plan to proceed with a consolidation of the common shares of the Company on the basis of one (1) "new" common share for fifteen (15) "old" common shares as approved by shareholders at the Company's annual general meeting held on January 25, 2013.
There are currently outstanding approximately 406.6 million common shares. The consolidation will reduce the number of common shares outstanding to approximately 27.1 million. The Board of Directors believes that a reduced number of shares will better facilitate corporate finance transactions.
The share consolidation remains subject to the acceptance of the TSX Venture Exchange.
Neither 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: Cantex Mine Development Corp.
For further information:
Cantex Mine Development Corp, Tel: +250-860-8582, Email: [email protected]