VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 13, 2017) - Cameo Resources Inc. (TSX VENTURE:CRU)(OTC PINK:SIDNF) ("Cameo" or the "Company") announces that it has amended the details on is previously announced share consolidation and apologizes for an error in the number of issued and outstanding shares noted on the release disseminated February 10, 2017.
The corrected details are as follows:
Further to the approval received from shareholders of the Company at the AGSM and as described in more detail in the Management Information Circular of the Company dated December 23rd 2016, the Company has authorized a consolidation of the issued and outstanding common shares of the Company (the "Common Shares") on the basis of one (1) post-consolidation Common Share for every twenty-five (25) pre-consolidation Common Shares (the "Consolidation"). As a result of the Consolidation, 71,296,334 Common Shares currently issued and outstanding will be reduced to approximately 2,851,853 post-consolidation Common Shares. No fractional shares will be issued in the Consolidation. Each fractional share following the Consolidation that is less than one-half of a share will be cancelled and each fractional share that is at least one-half of a share will be rounded up to the nearest whole share. The exercise or conversion price and the number of shares issuable under any of the Company's outstanding stock options and convertible instruments will be proportionately adjusted upon completion of the Consolidation. A letter of transmittal will be sent to registered shareholders providing instructions to surrender the certificates evidencing their Common Shares for replacement certificates representing the number of post-consolidation Common Shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate representing Common Shares prior to the Consolidation will be deemed for all purposes to represent the number of Common Shares to which the holder thereof is entitled as a result of the Consolidation. The Consolidation is subject to the approval of the TSXV.
The effective date for the Consolidation and Name change is anticipated to be February 17, 2017. Prior to the effective date, the Company's shares will continue to trade on the TSXV under the current trading symbol and Cussip Number on the anticipated effective date the Company's shares will continue trading on the TSXV under the same trading symbol with a new Cussip number.
The Company will provide further details on confirmation of the effective date.
Akash Patel, President
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.
Statements in this press release contain forward-looking information. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Cameo.
Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Cameo.