TORONTO, ONTARIO--(Marketwired - Aug. 29, 2013) - Goldstar Minerals Inc. (TSX VENTURE:GDM)("Goldstar" or the "Company") will consolidate its common shares on the basis of one new common share for every 20 common shares outstanding as of market open on August 30, 2013.
Goldstar currently has 58,543,002 common shares outstanding and, following the share consolidation on a 20 for one basis, it will have approximately 2,927,150 common shares outstanding. The change in the number of issued and outstanding common shares that will result from the share consolidation will not materially affect any shareholder's percentage ownership in Goldstar, although such ownership would be represented by a smaller number of common shares.
A letter of transmittal will be sent by mail to shareholders advising that the share consolidation has taken effect and instructing shareholders to surrender the certificates evidencing their common shares for replacement certificates representing the number of common shares to which they are entitled as a result of the consolidation. Until surrendered, each certificate 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 share consolidation was approved by the shareholders of Goldstar at the annual general and special meeting held on July 22, 2013. Further details regarding the share consolidation are contained in the Company's Information Circular dated June 17, 2013, which has been filed under the Company's profile on SEDAR at www.sedar.com.
On behalf of the Board of Directors of
GOLDSTAR MINERALS INC.
Benoit Moreau, Chief Executive Officer
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.
This news release may contain forward-looking statements. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.