Trading Symbol: CCY
At the Meeting, the Company will be seeking, by ordinary resolution, the approval of its shareholders to consolidate its outstanding share capital on the basis of 3 pre-consolidation shares for 1 post-consolidation share. The reasons for the consolidation are to increase the Company's flexibility and competitiveness in the market place and to make the Company's securities more attractive to a wider audience of potential investors.
The Company currently has 27,854,658 common shares issued and outstanding, and after the consolidation, the Company will have approximately 9,284,886 common shares issued and outstanding. The Company is not expected to change its name in conjunction with the consolidation.
The completion of the consolidation remains subject to shareholder and regulatory approval.
ON BEHALF OF THE BOARD OF DIRECTORS OF
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.