Cruz Capital (CUZ-V) Oct 5, '16 proposes to split the common shares of the company on the basis of one presplit share for three postsplit shares. As a result of the forward split, the company's issued capital will be altered by splitting all of the 14,808,082 issued shares without par value into 44,424,246 shares without par value. Outstanding stock options and share purchase warrants will also be adjusted by the forward split ratio and the respective exercise prices of outstanding stock options and warrants will be adjusted accordingly. The company will not be changing its name or trading symbol in connection with the proposed forward split. The purpose of the forward split is to increase liquidity of the company's shares and, in turn, make financing terms more attractive.
The forward split is subject to acceptance by the TSX Venture Exchange. Subject to such approval, the company has set the close of business on Nov. 7, 2016, as the record date for the forward split and Nov. 9, 2016, as the effective date of the forward split.
James Nelson, president of the company, stated: "We feel that this split will be a positive event for the company as this will enable greater liquidity for the shareholders, thus enabling a more transparent and consistent market. The ratio being proposed will be three to one. For example this means that if you are shareholder of record of 10,000 shares you would then hold 30,000 shares upon completion and approval of the split."
Cruz is actively engaged in acquiring and developing cobalt assets in North America. Cruz has acquired numerous high-grade cobalt assets located in North America. Seven cobalt projects are in Canada and one is in Idaho. The goal of the company is to make Cruz the foremost cobalt project generator and developer on the TSX Venture Exchange. Management feels that cobalt is at the early stages of a significant bull market and the company is pleased to be positioning Cruz at the forefront of this cycle.
If you would like to be added to Cruz's email list please send an email to info@cruzcapitalcorp.com
James Nelson
President
604.899.9150
www.cruzcapitalcorp.com |
