Cadan Announces 5:1 Share Consolidation
August 28 2009 - 3:54PM
Marketwired
CADAN RESOURCES CORPORATION (TSX VENTURE: CNF) (the "Company")
announces that at the upcoming General Meeting of the Company's
Shareholders scheduled for October 21, 2009 (the "Meeting"), the
Board of Directors will ask the shareholders to approve a five old
for one new consolidation of the common shares of the Company (the
"Consolidation").
The Company currently has 168,371,570 common shares issued and
outstanding, and, if the Consolidation is approved, will have
approximately 33,674,314 common shares issued and outstanding.
The Consolidation is subject to shareholder approval, acceptance
of the TSX Venture Exchange and such other regulatory approvals as
may be necessary.
Cadan Resources Corporation is a junior exploration company with
operations in the Philippines and Colombia and trades on the TSX
Venture Exchange (Canada) with trading symbol CNF-V.
On behalf of the board of directors,
Brett Taylor, President & CEO
This press release contains forward-looking information within
the meaning of Canadian securities laws. Such information includes,
without limitation, information regarding the TSX Venture Exchange
acceptance and shareholder approval of the Consolidation. 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 are not
guarantees 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 gold 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 most recent annual and interim
Management's Discussion and Analysis 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.
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.
Contacts: Cadan Resources Corporation John Anderson Director
604-218-7400 cadanresources@gmail.com Cadan Resources Corporation
Matthew Bell 604-910-4908 mattcnf@yahoo.ca
www.cadanresources.com
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