VANCOUVER, Nov. 1, 2018 /CNW/ - Bonterra Resources
Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the
"Company" or "Bonterra") announces that at market
open on Tuesday, November 6, 2018,
its common shares will begin trading on a 10 old for one new share
consolidated basis. The Company's trading symbol will not
change.
There are currently 397,498,708 common shares issued and
outstanding. Upon consolidation, there will be approximately
39,749,870 common shares issued and outstanding. The exact
number of post-consolidated shares will vary depending on the
treatment of fractional shares, which will occur when each
shareholder's holdings in the Company are consolidated. The
Company will not issue any fractional common shares as a result of
the consolidation. Instead, all fractional shares resulting
from the consolidation will be rounded down to the nearest whole
number. Outstanding stock options and share purchase warrants will
also be adjusted by the consolidation ratio and the respective
exercise prices adjusted accordingly.
Registered shareholders will receive a letter of transmittal
from the Company's transfer agent, Computershare Trust Company,
with instructions for exchanging their pre‑consolidated
shares. 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 Board of Directors approved the consolidation on
October 11, 2018.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President &
CEO
Bonterra Resources Inc.
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.
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SOURCE Bonterra Resources Inc.