BRC DiamondCore Announces Name Change and Share Consolidation
15.06.2011 | CNW
Toronto, June 15, 2011 - BRC DiamondCore Ltd. (the "Company") (TSX - BCD; JSE - BCD) announces that it will be filing articles of amendment to change the name of the Company to Delrand Resources Limited and to consolidate the outstanding common shares of the Company on a two for one basis (the "Consolidation"). It is expected that the Company's shares will commence trading on the Toronto Stock Exchange and on the JSE Limited on a post-Consolidation basis and under the new name on Monday, June 27, 2011. The new trading symbol for the Company upon such trading will be DRN. Shareholders of the Company authorized the name change at the shareholders' meeting held on June 29, 2010 and authorized the Consolidation at the shareholders' meeting held on February 15, 2011.Registered shareholders will be sent a letter of transmittal by the Company's transfer agent to be used by such shareholders in order to receive new share certificates representing their shareholdings post-Consolidation.
The Company currently has outstanding 99,408,640 common shares, such that upon effecting the Consolidation the Company will have outstanding approximately 49,704,320 common shares, subject to the rounding up of fractional shares. The Company's currently outstanding warrants and stock options will be adjusted on the same basis.
BRC DiamondCore Ltd. is an African-focused diamond explorer with projects in the Democratic Republic of the Congo. Led by a management team with extensive experience in diamond exploration and mine development, the Company works in a systematic and responsible manner to discover, assess and develop diamond resources for the benefit of its shareholders and local stakeholders.
For further information, please visit our website, www.brc-diamondcore.com, or contact:
In Toronto:
Arnold T. Kondrat, Director
(416) 366-2221 or 1-800-714-7938
In Johannesburg:
Brian P. Scallan, Vice President, Finance
+27 82 902 6273 or +243 991772978