Waterloo to Proceed with 2 for 1 Share Subdivision
August 31 2009 - 6:13PM
Marketwired
Waterloo Resources Ltd. (TSX VENTURE: WAT.P) ("Waterloo" or the
"Company") is pleased to announce that the Company is proceeding to
complete the subdivision of its outstanding common shares on the
basis of two (2) new shares for every one (1) old share. The
subdivision is being effected in anticipation of the Company's
"Qualifying Transaction" first announced on September 24, 2008.
The Company has received requisite approvals from the TSX
Venture Exchange to complete the subdivision.
The directors of the Company have set a record date of September
1, 2009 for the subdivision. Within five business days following
the record date, the Company's registrar and transfer agent will
mail, to the shareholders of record, share certificates
representing the additional shares they are entitled to as a result
of the subdivision.
The following table sets forth the effect that the subdivision
will have on the Company's outstanding securities as of the date
hereof:
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Before the Subdivision After the Subdivision
---------------------- ---------------------
(Number and type of outstanding (Number and type of outstanding
security) security)
-------------------------------------------------------------------------
2,320,000 common shares 4,640,000 common shares
-------------------------------------------------------------------------
40,000 incentive stock options 80,000 incentive stock options
exercisable to purchase 40,000 exercisable to purchase 80,000
common shares at an exercise common shares at an exercise
price of $0.20 per share price of $0.10 per share
-------------------------------------------------------------------------
The Company will not be changing its name in conjunction with
the subdivision.
ON BEHALF OF WATERLOO RESOURCES LTD.
Christian de Groot, Chief Financial Officer
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: Waterloo Resources Ltd. Sam Wong (604) 628-1161 (604)
688-0094 (FAX)
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