Central Iron Ore Announces Consolidation
July 12 2022 - 10:06AM
Central Iron Ore Ltd. (TSXV: CIO) (the
“
Company”) is pleased to announce that its has
consolidated its issued and outstanding common shares
(“
Common Shares”) on the basis of three (3)
pre-consolidation Common Shares for one post-consolidation Common
Share (the “
Consolidation”). The Consolidation
were approved by shareholders of the Company at its extraordinary
general meeting of shareholders held on Thursday, April 27, 2022.
The Common Shares are expected to commence trading on a
consolidated basis on or about market open on Monday, July 18,
2022.
Following the Consolidation, the Company will
have approximately 24,236,913 Common Shares outstanding. No
fractional Common Shares will be issued pursuant to the
Consolidation and any fractional Common Shares that would have
otherwise been issued have been rounded down to the nearest whole
number. The change in the number of issued and outstanding Common
Shares resulting from the Consolidation will not materially affect
any shareholder’s percentage ownership in the Company, although
such ownership will be represented by a smaller number of Common
Shares.
Letters of transmittal with respect to the
Consolidation have been mailed out to the Company’s registered
shareholders. All registered shareholders will be required to send
their share certificates, along with a properly executed letter of
transmittal, to the Company’s registrar and transfer agent,
Computershare Investor Services Inc., in accordance with the
instructions provided in the letter of transmittal. Shareholders
who hold their Common Shares through a broker, investment dealer,
bank or trust company should contact that nominee or intermediary
for assistance in depositing their Common Shares in connection with
the Consolidation. A copy of the letter of transmittal will be
posted on the Company’s issuer profile on SEDAR at
www.sedar.com.
On behalf of the Board of Directors CENTRAL IRON
ORE LTD.
“Brett Hodgins” ____________________________
Brett Hodgins, President/CEO
For further information, please contact:
www.centralironorelimited.com
Investor and Media Inquiries: Direct: +61 2 9397
7555
Email:info@centralironore.com
Neither the 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 IS NOT FOR
DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.
Cautionary Note Regarding
Forward-Looking Statements This news release contains
forward-looking information within the meaning of Canadian
securities laws. Although the Company believes that such
information is reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking information
is typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressions, or
are those, which, by their nature, refer to future events. The
Company cautions investors that any forward-looking information
provided by the Company is not a guarantee of future results or
performance, and that actual results may differ materially from
those in forward looking information as a result of various
factors, including, but not limited to, the state of the financial
markets for the Company’s equity securities, the state of the
market for iron ore or other minerals that may be produced
generally, recent market volatility; variations in the nature,
quality and quantity of any mineral deposits that may be located,
the Company's ability to obtain any necessary permits, consents or
authorizations required for its activities, to raise the necessary
capital or to be fully able to implement its business strategies
and other risks associated with the exploration and development of
mineral properties. The reader is referred to the Company's
disclosure documents for a more complete discussion of such risk
factors and their potential effects, copies of which may be
accessed through the Company’s page on SEDAR at www.sedar.com.
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