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Strategies & Market Trends : Dino's Bar & Grill
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From: Goose9410/30/2014 7:11:24 PM
Read Replies (2) of 203577
 
Darnley Bay Resources (DBL-V) Oct 30, '14 announces that it intends to consolidate its common shares subject to the approval of its shareholders at its annual and special meeting of shareholders scheduled for November 27, 2014.

The Company currently has 136,502,540 Common Shares issued and outstanding and proposes to consolidate its Common Shares such that one post-consolidation Common Share will be issued for every five pre-consolidation Common Shares outstanding on the effective date of the consolidation.

Following a share consolidation on a five for one basis, the Company would have approximately 27,300,508 Common Shares outstanding, post-consolidation. The change in the number of issued and outstanding Common Shares that would result from the share consolidation would not materially affect any shareholder's percentage ownership in the Company, although such ownership would be represented by a smaller number of Common Shares. The Company will not be changing its name connection with the consolidation.

Management and the directors of the Company believe that the consolidation is in the best interests of the Company and its shareholders and is necessary in order to provide the Company with an authorized share capital structure that will position the company to better attract equity financing.



Darnley Bay Resources Limited
Jamie Levy
President and CEO
(416) 862-7885 Mobile : (416) 567-2440
(416) 862-7889 (FAX)
jlevy@darnleybay.com
www.darnleybay.com
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