VANCOUVER, BC--(Marketwired - February 17, 2017) - Cameo Resources Inc. (TSX VENTURE: CRU) (OTC: SIDNF) ("Cameo" or the "Company") as previously announced the consolidation of the Company's issued and outstanding common shares on the basis of one (new) post consolidation common share for each twenty five (old) pre-consolidation common shares (the "Consolidation") will be effective February 21, 2017. The Consolidation has been approved by the TSX Venture Exchange (the "TSXV") and a related bulletin was issued by the TSXV on February 17, 2017.
The common shares will begin trading on a consolidated basis on the TSXV when markets open on February 21, 2017. Prior to the Consolidation, the Company had 71,296,334 million common shares issued and outstanding. As a result of the Consolidation, the Company has 2,851,853 common shares issued and outstanding. The Company's shares will continue to trade on the TSX under the existing symbol "CRU" but will have a new CUSIP number of 133240309.
The exercise price and the number of common shares issuable under any of the Company's outstanding warrants will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms. No fractional shares will be issued as a result of the Consolidation. Fractional interests will be rounded down to the nearest whole number of common shares. A letter of transmittal will be mailed to registered shareholders on February 21, 2017 providing instructions to surrender the certificates evidencing common shares held in exchange for replacement certificates or Direct Registration Advice representing the number of 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 whole common shares to which the holder thereof is entitled as a result of the Consolidation. Shareholders who hold their common shares in brokerage accounts or in "street name" are not required to take any action to surrender for exchange common shares held.
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.