TORONTO, Jan. 18, 2018 /CNW/ - Anaconda Mining Inc.
("Anaconda" or the "Company") (TSX:ANX) is pleased to announce that
it has completed the previously announced proposed consolidation
(the "Share Consolidation") of its share capital on the basis of
four (4) existing common shares for one (1) new common share. As a
result of the Share Consolidation, the 423,430,258 common shares
issued and outstanding were consolidated to approximately
105,857,564 common shares.
The Company's common shares are expected to begin trading on the
Toronto Stock Exchange (the "TSX") on a consolidated basis under
the same trading symbol ANX on or about January 22, 2018.
The new CUSIP and ISIN numbers for the consolidated shares
are 03240P207 and CA03240P2070, respectively. Shareholders who
hold their shares through a securities broker or dealer, bank or
trust company, will not be required to take any action with respect
to the share consolidation. Letters of transmittal will be
mailed to the registered holders of the Company's common shares,
requesting that they forward their pre-consolidation share
certificates to the Company's transfer agent, TSX Trust Company,
for exchange for new share certificates representing their common
shares on a post-consolidation basis. No fractional shares will be
issued in connection with the Consolidation.
As a result of the Share Consolidation, the number, exchange
basis or exercise price of all stock options and warrants will be
adjusted, as applicable, to reflect the four-for-one Share
Consolidation. The actual adjustment will be made by the Company in
consultation with its advisors.
The Share Consolidation was previously approved by shareholders
at a meeting held on May 8, 2017 and
has been conditionally approved by the TSX. Please refer to the
management information circular of the Company dated April 3, 2017 for additional details on the Share
Consolidation. The circular is available on the Company's
profile on SEDAR at www.sedar.com.
ABOUT ANACONDA
Anaconda Mining is a TSX-listed gold mining, development, and
exploration company, focused in the prospective Atlantic Canadian
jurisdictions of Newfoundland and
Nova Scotia. The Company operates
the Point Rousse Project located in the Baie Verte Mining District
in Newfoundland, comprised of the
Pine Cove open pit mine, the fully-permitted Pine Cove Mill and
tailings facility, the Stog'er Tight and Argyle deposits, and
approximately 5,800 hectares of prospective gold-bearing property.
In addition, Anaconda is developing the Goldboro Project in
Nova Scotia, a high-grade Mineral
Resource, with the potential to leverage existing infrastructure at
the Company's Point Rousse Project.
The Company also has a pipeline of organic growth opportunities,
including the Viking and Great Northern Projects on the Northern
Peninsula and the Tilt Cove Property on the Baie Verte
Peninsula.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information"
within the meaning of applicable Canadian and United States securities legislation.
Forward-looking information includes, but is not limited to,
statements regarding targets, estimates and/or assumptions in
respect of future production, mine development costs, unit costs,
capital costs, timing of commencement of operations and future
economic, market and other conditions, and is based on current
expectations that involve several business risks and uncertainties.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "expects", or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "does not anticipate", or
"believes" or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would",
"might", or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the opinions and estimates
of management at the date the information is made, and is based on
a number of assumptions and is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Anaconda to be
materially different from those expressed or implied by such
forward-looking information, including risks associated with the
exploration, development and mining such as economic factors as
they effect exploration, future commodity prices, changes in
foreign exchange and interest rates, actual results of current
production, development and exploration activities, government
regulation, political or economic developments, environmental
risks, permitting timelines, capital expenditures, operating or
technical difficulties in connection with development activities,
employee relations, the speculative nature of gold exploration and
development, including the risks of diminishing quantities of
grades of resources, contests over title to properties, and changes
in project parameters as plans continue to be refined as well as
those risk factors discussed in Anaconda's annual information form
for the year ended May 31, 2017,
available on www.sedar.com. Although Anaconda has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. Anaconda does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE Anaconda Mining Inc.