My speculation on CDB consolidation was right.
Cordoba Minerals April 23, '14 will immediately be seeking TSX Venture Exchange approval of the consolidation of the company's issued and outstanding share capital. The currently outstanding common shares of Cordoba (the "Common Shares") will be consolidated on the basis of one new Common Share for two existing Common Shares (the "Consolidation"). In the event that the number of existing Common Shares held by a shareholder is not evenly divisible by two, the number of post-Consolidation Common Shares issued to such shareholder shall be rounded up to the next greater whole number if the fractional entitlement is equal to or greater than 0.5 and shall be rounded down to the next lesser whole number if the fractional entitlement is less than 0.5. The proposed Consolidation was unanimously approved at the Company's special meeting of shareholders held on March 25, 2014, subject to implementation at the discretion of the Board of Directors. The Consolidation was proposed as part of the transaction agreement whereby Cordoba acquired by way of plan of arrangement all of the issued and outstanding common shares of Sabre Metals Inc. and all of the issued and outstanding common shares of Cordoba Holdings Corp. it did not already own, and the Board has now decided to proceed with the Consolidation.
The Company currently has outstanding 117,624,206 Common Shares, 35,516,874 warrants, 2,625,600 broker compensation options, and 2,481,201 incentive stock options. Post-Consolidation, the Company will have outstanding 58,812,103 Common shares, 17,758,437 warrants, 1,312,800 broker compensation warrants, and 1,240,601 incentive stock options. |
