Nortec Minerals Announces Completion of Share Consolidation
Vancouver, BC / TNW-ACCESSWIRE / October 16, 2014 / Nortec Minerals Corp.. (the "Company) (TSXV: NVT) - announces that as of the TSX Venture Exchange ("TSX-V") market open on Wednesday, October 15, 2014, the Company consolidated its outstanding common shares on a basis of one new common share for every six old common shares. The 6 to 1 share consolidation was approved by the shareholders of the Company at the Company's annual general and special meeting of shareholders held on May 20, 2014. The Company has received TSX-V approval of the transaction.
As a result of the share consolidation, the number of issued and outstanding common shares will be reduced from 140,140,639 to approximately 23,356,773. Trading commenced on the TSX-V at the opening of trading on October 15, 2014. The name of the Company and stock symbol will remain the same (CUSIP 65655Q202; ISIN CA 65655Q2027).
Letters of transmittal describing the details of the share consolidation and the process by which shareholders obtain actual share certificates representing the consolidated common shares will be mailed out to registered shareholders of the Company. Registered shareholders may also obtain copies of the letter of transmittal by contacting the Company's transfer agent, Computershare Investor Services Inc. Shareholders who hold their shares through their broker or other intermediary and do not have actual share certificates registered in their name will not be required to complete and return a letter of transmittal.
Any pre-consolidation common shares owned by such shareholders will automatically be adjusted as a result of the share consolidation to reflect the applicable number of post-consolidation common shares owned by them and no further action is required to be taken by such shareholders. No fractional common shares will be issued as a result of the consolidation. Any fractional common share arising from the consolidation comprising less than one-half of one common share will be rounded down to the nearest whole common share. Any fractional common share arising from the consolidation comprising greater than or equal to one half of one whole common share will be rounded up to the nearest whole common share.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company has a 100% interest in the Tammela Gold & Lithium Project in South-West Finland; The Company also holds a majority shareholding interest in its subsidiary, Finore Mining Inc. Finore controls a 100% interest in the Lantinen Koillismaa PGE-Au-Cu-Ni deposit, Finland. Information on the Company's projects can be referred to on www.nortecminerals.com
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|On behalf of the Board of Directors,|
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|Nortec Minerals Corp. |
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|“Mohan R. Vulimiri” |
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|Mohan R. Vulimiri, CEO and Chairman |
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The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
This press release contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
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