TORONTO, Nov. 28, 2013 /CNW/ - Richmond Minerals Inc. (TSXV: RMD) ("Richmond" or the "Company") will consolidate its common shares on the basis of one new common share for every four common shares outstanding effective as of December 8, 2013.
Richmond currently has 82,209,239 common shares outstanding and, following the share consolidation on a four for one basis, will have approximately 20,552,601 common shares outstanding. A letter of transmittal will be sent by mail to shareholders advising that the share consolidation has taken effect and instructing shareholders to surrender the certificates evidencing their common shares for replacement certificates representing the number of common shares to which they are entitled as a result of the consolidation. Until surrendered, each certificate will be deemed for all purposes to represent the number of common shares to which the holder thereof is entitled as a result of the consolidation.
The share consolidation was approved by the shareholders of Richmond at the annual general and special meeting held on June 7, 2013. Further details regarding the share consolidation are contained in the Company's Information Circular dated April 4, 2013, which has been filed under the Company's profile on SEDAR at www.sedar.com.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Although the Company considers these 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. Such risk factors include, among others, that the litigation will be resolved. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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 news release.
On Behalf of Richmond Minerals,
President and CEO
SOURCE: Richmond Minerals Inc.
For further information:
Franz Kozich, President or Warren Hawkins, Exploration Manager at (416) 603-2114.