Shareholders also appointed
In addition, shareholders also approved the consolidation of the Company's common shares on the basis of 1 new common share for 10 old common shares. As a result of consolidation total shares outstanding will be reduced from 120,302,727 to 12,030,277. Management believes implementing the consolidation will facilitate raising capital for operations and working capital. The consolidation is subject to
Additional details will be provided in a Report of Voting Results to be filed on SEDAR.
Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
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