Delrand Resources Limited

Delrand Resources Limited

February 18, 2016 18:13 ET

Delrand Announces Share Consolidation

TORONTO, ONTARIO--(Marketwired - Feb. 18, 2016) - Delrand Resources Limited ("Delrand" or the "Company") (NEX:DRN.H)(JSE:DRN) announces that it will be filing articles of amendment to consolidate the outstanding common shares of the Company on a two to one basis (the "Consolidation"). It is expected that the Company's shares will commence trading on TSX Venture Exchange (as a NEX company) on a post-Consolidation basis on Monday, February 29, 2016. The trading symbol for the Company on TSX Venture Exchange will remain DRN.H. Shareholders of the Company authorized the Consolidation at the shareholders' meeting held on December 18, 2015.

Registered shareholders will be sent a letter of transmittal by the Company's transfer agent to be used by such shareholders in order to receive new share certificates representing their shareholdings post-Consolidation.

The Company currently has outstanding 30,781,581 common shares, such that upon effecting the Consolidation the Company will have outstanding approximately 15,390,790 common shares, subject to the rounding up of fractional shares. The Company's currently outstanding warrants will be adjusted on the same basis.

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.

Contact Information

  • Delrand Resources Limited
    Arnold T. Kondrat
    (416) 366-2221