VANCOUVER, Nov. 12, 2014 /CNW/ - Coronado Resources
Ltd. (TSX-V: CRD) and (OTCQX: CRDAF)
("Coronado") announces that on October 23,
2014, Coronado's Board of
Directors approved a share consolidation of the outstanding share
capital of Coronado on the basis
of seven (7) pre-consolidation common shares for one (1)
post-consolidation common share (the "Consolidation"), and that the
TSX Venture Exchange (the "TSX-V") has conditionally approved the
Consolidation. Final approval of the Consolidation will be granted
by the TSX-V following the issuance of this release, and the
Consolidation will be effective at the open of the market on
November 14, 2014.
As a result of the Consolidation, Coronado's currently issued and outstanding
79,273,092 common shares will be reduced to approximately
11,324,727 common shares. No fractional common shares will be
issued as a result of the Consolidation. Instead, any fractional
common shares will be rounded down to the nearest whole number of
common shares. Coronado's name and
trading symbols will remain unchanged.
Registered shareholders will receive a letter of transmittal
from Coronado's transfer agent,
Computershare Investor Services Inc. ("Computershare"), with
information on how to exchange their old share certificates
representing pre-Consolidation common shares with the new share
certificates representing post-Consolidation common shares.
Computershare will forward to each registered shareholder who has
provided the required documents a new share certificate
representing the number of post-Consolidation common shares to
which the shareholder is entitled. Until surrendered, each share
certificate representing pre-Consolidation common shares of
Coronado will be deemed for all purposes to represent the number of
whole post-Consolidation common shares to which the holder is
entitled as a result of the Consolidation.
About Coronado Resources
Headquartered in Vancouver, Canada, Coronado Resources Ltd. is
a controlled subsidiary (49%) of New
Zealand oil and gas producer, TAG Oil Ltd. (TSX: TAO) and
(OTCQX: TAOIF). Coronado generates
revenues from its 100% owned and operated clean power generation
business, which provides electricity to industry and residential
customers in New Zealand.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
Statements contained in this news release that are not
historical facts are forward-looking statements that involve
various risks and uncertainty affecting the business of
Coronado. Such statements can
generally, but not always, be identified by words such as
"expects", "plans", "anticipates", "intends", "estimates",
"forecasts", "schedules", "prepares", "potential" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur.
Forward-looking statements and information concerning
anticipated financial performance are based on management's
assumptions using information currently available. In making the
forward-looking statements in this news release, Coronado has applied certain factors and
assumptions that are based on information currently available to
Coronado as well as Coronado's current beliefs and assumptions
made by Coronado. Although
Coronado considers these beliefs
and assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in
such forward-looking statements. Although Coronado 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 statements.
Accordingly, readers should not place undue reliance on
forward-looking information. Coronado does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
SOURCE Coronado Resources Ltd.