VANCOUVER, Sept. 26, 2014 /CNW/ - Rio Cristal Resources Corporation (TSXV:RCZ) ("Rio Cristal" or the "Company") announced today that the previously announced consolidation (the "Consolidation") of its common shares (the "Common Shares") on the basis of (1) post-Consolidation Common Share for every ten (10) pre-Consolidation Common Shares will be effective as of September 29, 2014 and trading of the Common Shares will commence on a consolidated basis on the TSX Venture Exchange (the "TSXV") at the opening of trading on such date.
The Consolidation has been approved by the TSXV, and a related bulletin was issued by the TSXV on September 26, 2014.
The Company's outstanding options and warrants will also be adjusted on the same basis (10:1) as the Common Shares, with proportionate adjustments being made to exercise prices.
A letter of transmittal was mailed to shareholders on September 23, 2014 advising that shareholders should surrender their existing share certificates (representing pre-Consolidation Common Shares) for replacement share certificates (representing post-Consolidation Common Shares). Until surrendered, each existing share 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.
Following the Consolidation, the Company will have approximately 1,725,916 Common Shares outstanding.
About Rio Cristal Resources Corporation
Rio Cristal Resources Corporation is a Canadian company focused on exploration projects in Peru. The Company's shares are listed on the TSXV under the symbol RCZ. For further information for investors, please contact the Company via email at email@example.com.
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.
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "intends", "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties. Examples of forward-looking information in this news release include, but are not limited to, statements with respect to the effective date of the Consolidation and the number of post-Consolidation Common Shares. For additional information on risks and uncertainties, see the Company's MD&A for the year ended March 31, 2014, which is available on SEDAR at www.sedar.com. The risk factors identified in the Company's annual MD&A are not intended to represent a complete list of factors that could affect the Company. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not assume any obligation to update the forward-looking information contained in this press release.
SOURCE: Rio Cristal Resources Corporation
For further information: please contact the company via email at contact: Matthew Watson at firstname.lastname@example.org