Strongbow Exploration (SBW-V) March 24, '14 will commence trading on a one-new-for-10-old consolidated basis at the market opening on Friday, March 28, 2014. This follows the approval of a share consolidation by Strongbow shareholders at the annual general and special meeting held on June 26, 2013, a decision by the board of directors in December, 2013, to proceed with the share consolidation.
The new Cusip number will be 863363305, and the ISIN number will be CA8633633059. The company will continue to trade under the symbol SBW. Letters of transmittal describing the process by which shareholders may obtain new certificates representing their consolidated common shares will be mailed shortly to registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not be required to complete a letter of transmittal. No fractional shares will be issued under the share consolidation, and any fraction will be rounded to the nearest whole number. Following the consolidation, Strongbow will have issued and outstanding 9,107,716 common shares. All outstanding stock options of the company will be adjusted accordingly to reflect the share consolidation.
The directors believe the share consolidation will put the company in a better position to finance its exploration and development activities. In particular, in light of the current market conditions, the company believes it will be beneficial to the current shareholders to have the issued share capital made more attractive to future investors. |
