Heron Resources Limited Announces Shareholders Approval of Share Consolidation
November 30 2017 - 4:00AM
Heron Resources Limited (ASX:HRR; TSX:HER, “Heron” or the
“Company”) announces that at its annual general meeting (the
“
Meeting”) of shareholders held on 29 November, 2017,
shareholders approved a share consolidation of every ten (10)
previously held ordinary shares into one (1) new ordinary share of
the Company (the “
Share Consolidation”). The completion of
the Share Consolidation is subject to receipt of all regulatory
approvals.
No fractional ordinary shares will be issued as
a result of the Share Consolidation. Where the Share Consolidation
results in an entitlement to a fraction of an ordinary share, that
fraction will be rounded up to the next whole number of new
ordinary shares. The Share Consolidation would result in the number
of ordinary shares issued and outstanding of Heron being
approximately 241,666,164.
The proposed Share Consolidation will take
effect on 5 December, 2017. The following is an indicative
timetable (subject to change) of the key events in Australia:
Event |
Date |
Trading in the consolidated securities on a deferred settlement
basis commences |
1 December 2017 |
Last day to register transfers on a pre-Consolidation basis |
4 December 2017 |
Registration of securities on a post-Consolidation basis |
5 December 2017 |
Despatch of new holding statements |
5 December 2017 |
Deferred settlement trading ends |
11 December 2017 |
Normal trading starts |
12 December 2017 |
The effective date of the Share Consolidation
for purposes of trading will be different between the Toronto Stock
Exchange (“TSX”) and the Australian Securities Exchange. The
effective date for trading on the TSX will be on or about 2-3
business days after receipt of all required documentation contained
within the TSX’s conditional approval letter.
About Heron Resources Limited
Heron is engaged in the exploration and
development of base and precious metal deposits in Australia.
Heron’s primary development project is the high-grade Woodlawn
Zinc-Copper Project located 250km southwest of Sydney, New South
Wales.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This report contains forward-looking statements
and forward-looking information within the meaning of applicable
Canadian securities laws, which are based on expectations,
estimates and projections as of the date of this report. This
forward-looking information includes, or may be based upon, without
limitation, estimates, forecasts and statements as to management’s
expectations with respect to, among other things, the timing and
amount of funding required to execute the Company’s exploration,
development and business plans, capital and exploration
expenditures, the effect on the Company of any changes to existing
legislation or policy, government regulation of mining operations,
the length of time required to obtain permits, certifications and
approvals, the success of exploration, development and mining
activities, the geology of the Company’s properties, environmental
risks, the availability of labour, the focus of the Company in the
future, demand and market outlook for precious metals and the
prices thereof, progress in development of mineral properties, the
Company’s ability to raise funding privately or on a public market
in the future, the Company’s future growth, results of operations,
performance, and business prospects and opportunities. Wherever
possible, words such as “anticipate”, “believe”, “expect”,
“intend”, “may” and similar expressions have been used to identify
such forward-looking information. Forward-looking information is
based on the opinions and estimates of management at the date the
information is given, and on information available to management at
such time. Forward-looking information involves significant risks,
uncertainties, assumptions and other factors that could cause
actual results, performance or achievements to differ materially
from the results discussed or implied in the forward-looking
information. These factors, including, but not limited to, the
receipt of shareholder and regulatory approvals to complete the
Share Consolidation, fluctuations in currency markets, fluctuations
in commodity prices, the ability of the Company to access
sufficient capital on favourable terms or at all, changes in
national and local government legislation, taxation, controls,
regulations, political or economic developments in Canada,
Australia or other countries in which the Company does business or
may carry on business in the future, operational or technical
difficulties in connection with exploration or development
activities, employee relations, the speculative nature of mineral
exploration and development, obtaining necessary licenses and
permits, diminishing quantities and grades of mineral reserves,
contests over title to properties, especially title to undeveloped
properties, the inherent risks involved in the exploration and
development of mineral properties, the uncertainties involved in
interpreting drill results and other geological data, environmental
hazards, industrial accidents, unusual or unexpected formations,
pressures, cave-ins and flooding, limitations of insurance coverage
and the possibility of project cost overruns or unanticipated costs
and expenses, and should be considered carefully. Many of these
uncertainties and contingencies can affect the Company’s actual
results and could cause actual results to differ materially from
those expressed or implied in any forward-looking statements made
by, or on behalf of, the Company. Prospective investors should not
place undue reliance on any forward-looking information. Although
the forward-looking information contained in this report is based
upon what management believes, or believed at the time, to be
reasonable assumptions, the Company cannot assure prospective
purchasers that actual results will be consistent with such
forward-looking information, as there may be other factors that
cause results not to be as anticipated, estimated or intended, and
neither the Company nor any other person assumes responsibility for
the accuracy and completeness of any such forward-looking
information. The Company does not undertake, and assumes no
obligation, to update or revise any such forward-looking statements
or forward-looking information contained herein to reflect new
events or circumstances, except as may be required by law. No
stock exchange, regulation services provider, securities commission
or other regulatory authority has approved or disapproved the
information contained in this report.
For further information regarding Heron please visit www.heronresources.com.au or contact:
Heron Resources
Mr Wayne Taylor
Managing Director and CEO Heron Resources Ltd
Tel: +61 2 9119 8111
Email: heron@heronresources.com.au
Jon Snowball, FTI Consulting
+61 2 8298 6100
jon.snowball@fticonsulting.com
Heron (Canada)
Tel: +1 647-862-1157(Toronto)