Letters of transmittal with respect to the Consolidation will be mailed out to all registered shareholders by Computershare. The letter of transmittal describes the process by which registered shareholders may obtain new certificates representing consolidated Common Shares and all registered shareholders of the Company will be required to send their certificates representing pre-Consolidation Common Shares with a properly executed letter of transmittal to Computershare, in accordance with the instructions provided in the letter of transmittal. No fractional Common Shares will be issued. Where the Consolidation results in a fractional Common Share, the number of post-Consolidation Common Shares will be rounded down to a lower unit where the fraction obtained is less than 0.5 and rounded up to the higher unit where the fraction obtained is equal to or greater than 0.5. Shareholders who hold their Common Shares through a broker or other intermediary and do not have Common Shares registered in their name will not need to complete a letter of transmittal, the exchange will be completed by their broker or intermediary.
The Consolidation was approved at the Annual and Special Meeting of Shareholders of Northcore held on
The Corporation will also file with the TSX-Venture a
Each Unit will consist of one (1) Post-Consolidation Common Share and one (1) Post- Consolidation Common Share Purchase Warrant. Each warrant will give the holder the right to acquire an additional Post-Consolidation Common Share at a price of
This Placement will be a non-brokered placement made with
The Use of Proceeds of the Placement will be for Corporate Cash Flow purposes.
The Corporation has recently entered into a one (1) year loan agreement with an arm's length entity for loan proceeds of
Neither the TSX-Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Northcore Resources Inc. Garry MajerleChairman of the Board of Directors (519)-697-6945 Northcoreres@gmail.com Source: Northcore Resources Inc.