TSX-V Trading Symbol: HRC
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VANCOUVER, Feb. 6, 2018 /CNW/ - Helio Resource Corp ("Helio" or the "Company"; TSX-V: HRC) is pleased to announce that the TSX Venture Exchange has approved a consolidation of the Company's common shares (the "Shares") on the basis of one new Share for every 25 Shares currently issued and outstanding (the "Consolidation"). The Consolidation was approved by the Company's shareholders at the annual general and special meeting held on October 26, 2017.
The Shares will commence trading on the TSX Venture Exchange on a consolidated basis at the open of markets on Thursday, February 8, 2018. On a post-Consolidation basis, the Company will have approximately 10,449,318 Shares. The Company's name and trading symbol will remain the same.
The Company will not issue any fractional Shares as a result of the Consolidation. Instead, each fractional post-Consolidation Share remaining after conversion that is less than one-half of a post-Consolidation Share will be cancelled and each fractional post-Consolidation Share that is at least one-half of a post-Consolidation Share will be changed to one whole post-Consolidation Share.
The Company's options and warrants will also be adjusted on the same basis (25 for 1) as the Shares, with proportionate adjustments being made to exercise prices.
A full description of the Consolidation is contained in the Company's management information circular dated September 25, 2017, which has been filed under the Company's profile on Sedar at: www.sedar.com on October 3, 2017.
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.
Statements Regarding Forward-Looking Information
Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "anticipated", "estimates", "intends", "expected", "believes", "may", "will" and include, without limitation, statements regarding the company's plan of business operations (including plans for progressing assets), estimates regarding mineral resources, projections regarding mineralization and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
SOURCE Helio Resource Corp.
For further information: Enquiries: Helio Resource Corp, Richard Williams (CEO), +1 604 638 8005