Tickers: XTSX:CFM
Tags: #Mining
Vancouver, British Columbia, Canada - TheNewswire February 11, 2020, Confederation Minerals Ltd. (TSXV: CFM) ("Confederation" or the "Company") announces that effective as of the opening of trading on Wednesday, February 12, 2020, the consolidated common shares of the Company will commence trading on the TSX Venture Exchange (the "Exchange") on the basis of one (1) post-consolidated common share for every two (2) pre-consolidated common shares held (the "Consolidation").
The Consolidation was authorized by the Company's Board of Directors in accordance with its Articles. At current date, the Company has 26,544,888 pre-consolidation common shares issued and outstanding and the Company will have approximately 13,272,447 common shares issued and outstanding post-consolidation. No fractional shares will be issued. Any fractional shares resulting from the Consolidation shall be converted such that each fractional common share remaining after conversion that is less than one-half of a common share be cancelled and each fractional common share that is at least one-half of a common share be changed to one whole common share.
The Company's new CUSIP number is 20716C502 and the new ISIN number is CA20716C5028. A Letter of Transmittal with respect to the Consolidation will be mailed to registered shareholders of the Company. The stock symbol will remain unchanged.
Registered shareholders can send their respective certificates representing the pre-consolidated common shares along with a properly completed Letter of Transmittal to the Company's transfer agent, Computershare Investor Services Inc. ("Computershare"), in Toronto, Ontario, all in accordance with the instructions provided in the Letter of Transmittal. Additional copies of the Letter of Transmittal can be obtained through Computershare (Shareholder Services 1-800-564-6253 or by e-mail to corporateactions@computershare.com). All shareholders who submit a duly completed Letter of Transmittal along with their respective pre-consolidated share certificate(s) to Computershare will receive in return a post-consolidated share certificate. No action is required by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the Consolidation.
For further information about this news release and the Company's current activities contact info@confedreationmineralsltd.com, visit our website at www.confederationmineralsltd.com or call us at 604-688-9588.
On behalf of the Board of Directors,
"David Velisek"
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.
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