Nevada Sunrise (NEV-V) consolidate 1:10
Dec 12, 2013 - News Release
Nevada Sunrise Gold Corp.'s board of directors has determined to proceed with a consolidation of its common shares on the basis of one postconsolidated common share for every 10 preconsolidated common shares held. The company will not complete a name change. The consolidation will be effective Dec. 16, 2013, and the common shares will trade on a postconsolidation basis as of the open of the market on Dec. 16, 2013.The consolidation was approved by shareholders of the company at the company's annual and special meeting held on Aug. 29, 2013, and remains subject to the approval of the TSX Venture Exchange. The company currently has 96,673,175 common shares issued and outstanding, and if the consolidation is approved, will have approximately 9,667,317 common shares issued and outstanding immediately following the consolidation. Any resulting fractional shares remaining after consolidation that is less than one-half of a common share will be cancelled and each fractional common share that is at least one-half of a common share will be changed to one whole common share.
The board of directors is proceeding with the consolidation on the basis that it will provide the company with increased flexibility to seek additional financing opportunities. |
