A Spinout in the S&P/TSX Venture Composite and Venture
Select Indices
TORONTO, April 3, 2013 /CNW/ - S&P Dow Jones Canadian
Index Services will make the following changes in the S&P/TSX
Canadian Indices:
On Thursday, March 28,
2013, the shareholders of Canaco Resources Inc. (TSXVN:CAN)
approved the spinout of certain assets of Canaco to a new company
called East Africa Metals Inc. Final court approval for the
transaction is expected today, April 3,
2013. Shareholders of Canaco will receive 1 share of East
Africa Metals for every 3 shares held. East Africa Metals will be
added to the S&P/TSX Venture Composite and Venture Select
indices at zero price after the close of Thursday, April 4, 2013. It is anticipated that
East Africa Metals will be listed on TSX Venture Exchange under the
ticker symbol "EAM" but the listing date is uncertain at this
time.
Separately, after the close of Monday, April 8, 2013, the shares of Canaco will
be consolidated on a 1-for-3 basis. The name of the company will be
changed to Orca Gold Inc. and the shares will trade on the TSX
Venture Exchange under the new ticker symbol "ORG".
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SOURCE Standard & Poor's Canadian Index Operations