MELFORT, SK,
Jan. 28, 2014 /CNW/ - Hodgins
Auctioneers (TSX.V: HA) ("Company") is providing a correction to
its current issued and outstanding share number. As presented in
note 19 of the Company's December 31,
2012 audited Financial Statements, which are available on
SEDAR, in March of 2012 the Company completed a series of
transactions with a Former Director whereby 750,000 shares were
issued from treasury but were not properly paid for. As of
December 31, 2012 the share capital
transaction was reversed but the shares were not returned for
cancellation. As a result, the 750,000 shares had an ascribed
value of $0.00 but remained included
in the Company's issued and outstanding share total.
The Former Director has now returned the 750,000
shares for cancellation to treasury. The corrected number of shares
currently issued and outstanding after the cancellation will be
12,948,500. As a result of these shares being returned for
cancellation, accounting journal entries will be reflected in the
Company's 2014 first quarter financial statements.
Headquartered in Melfort,
SK for more than 50 years, Hodgins Auctioneers is a provider
of professional auction services. Hodgins is renowned for its
experienced Auctioneers, award-winning promotions, dependable
results and commitment to providing the ultimate marketplace for
the sale of assets by auction.
Neither the 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.
SOURCE Hodgins Auctioneers Inc.