Trading Symbol: TSX-V: JSP
CALGARY, July 14, 2014 /CNW/ - Jasper Mining Corporation ("Jasper") (TSX-V:JSP) is pleased to announce that effective July 16, 2014 the Company will consolidate its common shares ("shares") on the basis of eight (8) pre-consolidated common shares for one (1) post-consolidated share held (the "Consolidation"). The new CUSIP number will be 471718205 and the new ISIN number will be CA4717182055. The Company's name and stock symbol will remain unchanged following the Consolidation.
Management and the board of directors believe that the Consolidation is in the best interests of the Company and its shareholders.
The Company currently has 74,303,753 shares issued and outstanding and will have approximately 9,287,970 shares issued and outstanding following the Consolidation. No fractional shares will be issued under the Consolidation and any fraction will be rounded to the nearest whole number if the fractional entitlement is greater than 0.5 and shall be rounded down to the next lesser whole number of common shares if the fractional entitlement is less than 0.5. In calculating such fractional interests, all common shares held by a beneficial holder shall be aggregated. The Consolidation will not change a shareholder's proportionate ownership in Jasper or the rights of holders of common shares. The Consolidation is subject to regulatory approval.
Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders of Jasper as at July 16, 2014. All shareholders who submit a duly completed letter of transmittal along with their respective share certificate(s) representing the pre-consolidated shares to the Company's transfer agent, Computershare Investor Services Inc., will receive a share certificate representing the post-consolidated shares.
Following consolidation it is Jasper's intention to recapitalize the Company. Jasper's efforts will be concentrated on further drilling on its Isintok, Vowell Creek/Ruth Vermont and Erie Creek properties.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Jasper Mining Corporation
For further information: Gordon F. Dixon, Q.C., President, Jasper Mining Corporation, Telephone: (403) 297-9483, Fax (403) 266-1487, email: [email protected]