CALGARY, ALBERTA--(Marketwired - April 22, 2014) - Manson Creek Resources Ltd. ("Manson" or "the Company") (TSX VENTURE:MCK) announces that it has received approval of the TSX Venture Exchange ("Exchange") for the consolidation of the Company's issued and outstanding common shares on the basis of five (5) pre-consolidation shares for one (1) post-consolidation share (the "Consolidation"). The Company's shareholders voted 86.6% in favour of the transaction at its last Shareholder's Meeting held on May 24, 2012. The number of post-Consolidation shares issued and outstanding will be 16,271,891 common shares.
Effective at the opening of trading on April 23, 2014, the Company's pre-Consolidation common shares will be delisted and the post-Consolidation common shares will commence trading. The Company's trading symbol, MCK, will remain unchanged.
DRS Advices representing the post-consolidation common shares of Manson will be issued using the Effective Date on a "push-out" basis with a notice describing the change. Share certificates representing the Manson shares shall be cancelled on the Effective Date.
No fraction post-Consolidation common shares will be issued pursuant to the Consolidation. All fraction shares resulting from the consolidation will be rounded down to the nearest whole number and no cash consideration will be paid in respect of fractional shares. The exercise price and the number of common shares issuable under any of the Company's outstanding warrants or stock options will be proportionately adjusted upon the Consolidation.
Once the Consolidation is completed, the Company expects to close its previously announced non-brokered private placement of up to 8,125,000 million units within a few days. The unit pricing is based on Post Roll Back shares. This financing is subject to TSX Venture Exchange approval.
On Behalf of the Board of Directors,
Jean-Pierre Jutras, President/Director
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Manson Creek's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Manson Creek. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Manson Creek's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Manson Creek's filings with the Canadian securities authorities. Accordingly, holders of Manson Creek shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Manson Creek disclaims any responsibility to update these forward-looking statements.