VANCOUVER, Aug. 9, 2018 /CNW/ - Coronado Resources Ltd. ("Coronado") (NEX: CRD.H and OTC: CRDAF) announces that Coronado's common shares will be forward split on the basis of two (2) new common shares for each one (1) old common share (the "Stock Split"). All shareholders of record as at the record date of August 14, 2018 will be entitled to the Stock Split. The Stock Split is being conducted on a "push-out" basis and therefore Coronado's CUSIP number and trading symbol will remain the same.
In accordance with the applicable rules of the TSX Venture Exchange, the common shares of Coronado will trade on a due bill basis from August 13, 2018 to August 20, 2018, being the effective date for the share subdivision, inclusively. A due bill is an entitlement attached to listed securities undergoing a material corporate action, such as a stock split. In this instance, the entitlement is to the additional common shares issuable as a result of the Stock Split. Any trades that are executed on the NEX board during this period will be flagged to ensure purchasers receive the entitlement to the additional common shares issuable as a result of the Stock Split. Ex distribution trading in the common shares on a split-adjusted basis will commence on August 21, 2018, as of which date purchases of the common shares will no longer have the attaching entitlement to the additional common shares. The due bill redemption date will be August 22, 2018.
Shareholders of Coronado, with or without a physical share certificate, do not need to take any action with respect to the Stock Split.Coronado's transfer agent will send owners of common shares a share certificate or DRS advice, which will represent the additional number of common shares to be received as a result of the Stock Split.
As a result of the Stock Split, Coronado's currently issued and outstanding 3,231,411 common shares will be increased to approximately 6,462,822 common shares.
The primary reason for the Stock Split is to make Coronado's capital structure more attractive to a wider range of investors.
Coronado Resources Ltd.
Coronado is a Vancouver-based company pursuing business opportunities in the technology sector. The Company's widely distributed shares trade on the NEX Board of the TSX Venture Exchange under the trading symbol: CRD.H. Coronado also trades on the OTC Pink market network in the United States, trading symbol: CRDAF.
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.
Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Coronado. Such statements can generally, but not always, be identified by words such as "expects", "plans", "anticipates", "intends", "estimates", "forecasts", "schedules", "prepares", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Forward-looking statements and information concerning the review of all assets of Coronado are based on management's assumptions using information currently available and include Coronado's expectations regarding the Stock Split. In making the forward-looking statements in this news release, Coronado has applied certain factors and assumptions that are based on information currently available to Coronado as well as Coronado's current beliefs and assumptions made by Coronado. Although Coronado considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Although Coronado has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Coronado does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Coronado Resources Ltd.
For further information: Giuseppe (Pino) Perone, CEO, Phone at +1.604.682.6496, Email: [email protected], Website: http://www.coronadoltd.com/, Blog: http://coronadoltd.com/blog/