Arrowstar Resources to roll back shares 1:10
2014-03-26 14:31 ET - News Release
Mr. Phillip Thomas reports
PROPOSED SHARE CONSOLIDATION
Arrowstar Resources Ltd. proposes to undertake a consolidation of its share capital on the basis of 10 old common shares for one new common share. The proposed consolidation is subject to the approval of the TSX Venture Exchange.
As of the date hereof, the company has 69,844,702 common shares issued and outstanding. After giving effect to the proposed consolidation, the company would have approximately 6,984,470 common shares issued and outstanding. The company does not propose to change the corporate name of the company in conjunction with the consolidation.
The company believes that the consolidation is necessary so that the company will be better positioned to access the equity markets in order to raise the capital required for the company to continue operating as a public company, and to provide working capital.
We seek Safe Harbor. |