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KELOWNA, BC, April 22, 2013 /CNW/ - TrinCan Capital Corp. ("TrinCan" or the "Corporation") (TRN:TSX-V) is pleased to announce that it will hold its annual and special meeting on Friday, May 17, 2013 (the "Meeting") at its head office in Kelowna, British Columbia. The Information Circular - Proxy Statement for the Meeting was mailed today to shareholders of record on April 17, 2013. In addition to the regular matters considered at annual meetings, TrinCan will put before shareholders a proposed consolidation of its shares on a two for one basis. The consolidation is subject to approval of the TSX Venture Exchange and the approval of shareholders of the Corporation by special resolution; thus requiring approval of 66 2/3% of those voting at the Meeting. The Corporation currently has issued and outstanding 17,938,000 common shares and, if the consolidation is approved and carried out, the Corporation will have approximately 8,969,000 common shares issued and outstanding. The Corporation will not be changing its name in conjunction with the consolidation.
Management and the board of directors of the Corporation believe it appropriate in the current circumstances of the Corporation to effect the consolidation to provide a more effective platform to move the Corporation forward and build shareholder value. There can be no assurance that the consolidation of the outstanding capital will increase the market price per common share or generate increased investor interest in the Corporation.
TrinCan is a Canadian natural resource corporation engaged in the acquisition, exploration and development of oil and gas properties in Western Canada. The Common Shares trade on the TSX Venture Exchange under the symbol TRN.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved nor disapproved the information contained herein.
This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the Corporation's expectations are exploration risks detailed from time to time in the filings made by the Corporation with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of TrinCan. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and TrinCan does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.
SOURCE: TrinCan Capital Corp.
For further information:
Burkhard Franz, President and Chief Executive Officer
Tel: (250) 860-4604
Fax: (250) 712-2215