Compass Gold to Consolidate Its Common Shares on the Basis of One New Share for Forty Old Shares
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 18, 2015) - Compass Gold Corp. (the "Company") (NEX:CVB.H) is pleased to announce that effective Monday, September 21, 2015 at market open, the Company will consolidate its common shares on the basis of one (1) new post-consolidation common share for every forty (40) pre-consolidation common shares. The Company's common shares will begin trading on a post-consolidated basis on the TSX Venture Exchange on September 21st.
As a result of the consolidation, the Company's currently outstanding 152,203,078 common shares will be reduced to approximately 3,805,077 common shares. No fractional shares will be issued. Any fractions of a share will be rounded to the nearest whole number of common shares. The Company's name and trading symbol will remain unchanged. The consolidation was approved by the shareholders of the Company on May 29, 2015 and accepted by the TSX Venture Exchange on September 14, 2015.
Registered shareholders will be required to exchange their pre-consolidation share certificates for new share certificates representing post-consolidation common shares. Registered shareholders will be sent a transmittal letter from the Company's transfer agent, Computershare Investor Services Inc. ("Computershare"), as soon as practicable after the effective date of the consolidation. The letter of transmittal will contain instructions on how certificate(s) representing pre-consolidation shares may be surrendered to Computershare. Computershare will forward to each registered shareholder who has provided the required documents a new share certificate representing the number of post-consolidation common shares to which the shareholder is entitled. Until surrendered, each share certificate representing pre-consolidation common shares of the Company will be deemed for all purposes to represent the number of whole post-consolidation common shares to which the holder is entitled as a result of the consolidation.
It is the opinion of the Board of Directors of the Company that the consolidation will facilitate any new equity investment in the Company.
ABOUT COMPASS GOLD CORPORATION
Compass Gold Corp. is listed on the NEX board of the TSXV classified as a mineral exploration company. In December 2013 it sold its major assets and since that time has been investigating other possible investment opportunities by the Company.
Neither the 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.
COMPASS GOLD CORPORATION
James Henderson, Executive Chairman
Contact
Compass Gold Corp.
James Henderson
Executive Chairman
+61 2 8823 3100
info@compassgoldcorp.com
www.compassgoldcorp.com