Pitchblack Resources Ltd.
TSX VENTURE : PIT.H
NEX BOARD : PIT.H

November 02, 2015 17:15 ET

Pitchblack Implements Share Consolidation

TORONTO, ONTARIO--(Marketwired - Nov. 2, 2015) - Pitchblack Resources Ltd. (NEX:PIT.H) ("Pitchblack" or the "Company") has consolidated its common shares on the basis of one new common share for every ten common shares outstanding effective as of November 2, 2015.

Previous to the share consolidation Pitchblack had 46,240,614 common shares outstanding and, following the share consolidation on a ten for one basis, now has approximately 4,624,061 common shares outstanding. The change in the number of issued and outstanding common shares that has resulted from the share consolidation will not materially affect any shareholder's percentage ownership in Pitchblack, although such ownership would be represented by a smaller number of common shares.

A letter of transmittal has been 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 Pitchblack at the annual general and special meeting held on October 1, 2015. Further details regarding the share consolidation are contained in the Company's information circular dated August 28, 2015, which has been filed under the Company's profile on SEDAR at www.sedar.com.

About Pitchblack Resources Ltd.

Pitchblack has uranium, coal and gold assets in the Yukon Territory, Canada. The Company is currently reviewing the potential of these properties.

Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the Company's future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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