QUESNEL, BC, April 29 /CNW/ - Richfield Ventures Corp. (the "Company")
announced its intention to seek the necessary approvals to consolidate its
common shares. Following discussion with various interested financial
advisers, Richfield Ventures Corp's board of directors has concluded that
Richfield must consolidate its outstanding common shares to facilitate raising
The Company is proposing a consolidation on the basis of a one (1)
post-consolidated common share for each five (5) pre-consolidated common
shares. Options and warrants outstanding as of the date of the consolidation
will be adjusted in accordance with the consolidation ratio.
The proposed consolidation is subject to both the acceptance of the TSX
Venture Exchange and shareholder approval. The Company plans to seek
shareholder approval in the next few weeks by way of a written consent in
accordance with the policies of the TSX Venture Exchange. The Company shall
provide further information on the timing of the proposed consolidation in a
subsequent news release.
The Company currently has 25,698,188 common shares issued and outstanding
and if the proposed consolidation is undertaken, then the Company would have
approximately 5,139,638 common shares issued and outstanding.
Certain statements in this press release may be considered
forward-looking information, including those relating to the "expectations",
"intentions" or "plans" of the Company. Such information involves known and
unknown risks, uncertainties and other factors -- including the approvals of
regulators or shareholders, availability of funds, the results of financing
and exploration activities, the interpretation of drilling results and other
geological data, project cost overruns or unanticipated costs and expenses and
other risks identified by the Company in its public securities filings -- that
may cause actual events to differ materially from current expectations.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. The Company
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Peter Bernier, President & CEO, Richfield
Ventures Corp., Tel: (877) 992-6644, Email: pete@RichfieldVentures.ca; Susanne
Bonn, CFO, Richfield Ventures Corp., Tel: (877) 992-6644, Email: