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TORONTO, Jan. 14, 2020 /CNW/ - Central Timmins
Exploration Corp. ("CTEC" or the "Corporation")
(TSXV: CTEC) announces that today it has received TSX Venture
Exchange approval and has now completed the previously announced
consolidation (the "Share Consolidation") of its share
capital on the basis of six (6) existing common shares for one
(1) new common share. As a result of the Share Consolidation,
the 51,350,000 common shares issued and
outstanding were consolidated to
approximately 8,558,333 common shares. The common
shares will start trading on the TSX Venture Exchange on a
consolidated basis today, January 14,
2020. As a result of the Share Consolidation, all of the
Company's stock options and warrants issued and outstanding as of
today will be adjusted, as applicable, to reflect the Share
Consolidation.
The new CUSIP number for the consolidated common shares is
155528201. The stock symbol remains unchanged as CTEC.
Shareholders who hold their common shares through a securities
broker or dealer, bank or trust company, will not be required to
take any action with respect to the Share Consolidation. Letters of
transmittal have been mailed to the registered holders of common
shares, requesting that they forward their pre-consolidation common
share certificates to the Company's transfer agent, TSX Trust
Company, for exchange for new share certificates representing their
common shares on a post-consolidation basis. No fractional shares
will be issued in connection with the Share Consolidation.
About Central Timmins Exploration Corp.
CTEC is an
early-stage Canadian junior exploration company with property
primarily within the city limits of Timmins in the Porcupine Mining District in
the northeastern region of Ontario. The Corporation's assets are
prospective for gold as well as a suite of base metals. See the
company website at www.centraltimmins.com.
Forward Looking Information
This press release contains "forward-looking information"
within the meaning of applicable securities laws that is intended
to be covered by the safe harbours created by those laws.
"Forward-looking information" includes statements that use
forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative
thereof or other variations thereof or comparable terminology and
includes statements relating to, among other things, the timing of
the posting for trading of the post-consolidation Common
Shares.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made. Furthermore,
such forward-looking information involves a variety of known and
unknown risks, uncertainties and other factors which may cause the
actual plans, intentions, activities, results, performance or
achievements of the Corporation to be materially different from any
future plans, intentions, activities, results, performance or
achievements expressed or implied by such forward-looking
information. See "Particulars of Matters to be Acted Upon at the
Meeting – Share Consolidation – Risk Factors" in the Information
Circular and "Risk Factors" in the Corporation's final prospectus
dated October 4, 2018 filed on SEDAR
at www.sedar.com for a discussion of these risks.
CTEC cautions that there can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, investors should not
place undue reliance on forward-looking information.
Except as required by law, CTEC does not assume any
obligation to release publicly any revisions to forward-looking
information contained in this press release to reflect events or
circumstances after the date hereof.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Central Timmins Exploration Corp
