Coeur Announces Completion of 1-for-10 Reverse Stock Split on NYSE
May 27 2009 - 9:00AM
Business Wire
Coeur d�Alene Mines Corporation (NYSE:CDE) (TSX:CDM) (ASX:CXC)
announced today that its previously disclosed 1-for-10 reverse
stock split was completed effective as of 6:01 p.m., Eastern time,
on May 26, 2009. Trading of Coeur�s common stock on the NYSE will
begin on a split-adjusted basis at the open of trading today, May
27, 2009, under Coeur�s new CUSIP number, 192108504 (Old CUSIP
Number: 192108108). It is expected that the common stock will
commence trading on the Toronto Stock Exchange on a split-adjusted
basis at the opening of the market on or about May 29, 2009.
As a result of the reverse stock split, every 10 shares of
Coeur�s common stock issued and outstanding immediately prior to
the effective time were combined into one (1) share of common
stock, subject to the elimination of fractional shares. Additional
terms and procedures governing the reverse stock split were
previously disclosed by the Company in its press release issued by
the Company on May 18, 2009 and are set forth in more detail in
Coeur�s definitive proxy statement, dated April 1, 2009, which is
available on the SEC�s website, www.sec.gov, and the Company�s
website, www.coeur.com.
The number of shares of Coeur common stock issued and
outstanding have been reduced from approximately 686,320,000
shares, to approximately 68,632,000 shares post-split, without
accounting for fractional shares. The number of shares reserved for
issuance under Coeur�s equity compensation plans have been reduced
proportionately.
The Company has posted a Frequently Asked Questions (FAQ)
document to its website at www.coeur.com.
About Coeur
Coeur d�Alene Mines Corporation is one of the world�s leading
silver companies and also a significant gold producer. Coeur will
have its first full year of production this year at the world�s
largest pure silver mine - San Bartolom� in Bolivia � and began
production in March at another world-leading silver mine �
Palmarejo in Mexico. The Company also operates underground mines in
southern Chile and Argentina and one surface mine in Nevada; and
owns non-operating interests in two low-cost mines in Australia.
The Company also owns a major gold project - Kensington in Alaska -
and conducts exploration activities in Argentina, Chile and Mexico.
Coeur common shares are traded on the New York Stock Exchange under
the symbol CDE, the Toronto Stock Exchange under the symbol CDM,
and its CHESS Depositary Interests are traded on the Australian
Securities Exchange under symbol CXC.
Cautionary Statement
This press release contains forward-looking statements within
the meaning of securities legislation in the United States, Canada,
and Australia, including statements regarding anticipated operating
results. Such statements are subject to numerous assumptions and
uncertainties, many of which are outside the control of Coeur.
Operating, exploration and financial data, and other statements in
this presentation are based on information that Coeur believes is
reasonable, but involve significant uncertainties affecting the
business of Coeur, including, but not limited to, future gold and
silver prices, costs, ore grades, estimation of gold and silver
reserves, mining and processing conditions, construction schedules,
currency exchange rates, and the completion and/or updating of
mining feasibility studies, changes that could result from future
acquisitions of new mining properties or businesses, the risks and
hazards inherent in the mining business (including environmental
hazards, industrial accidents, weather or geologically related
conditions), regulatory and permitting matters, risks inherent in
the ownership and operation of, or investment in, mining properties
or businesses in foreign countries, as well as other uncertainties
and risk factors set out in filings made from time to time with the
SEC, the Canadian securities regulators, and the Australian
Securities Exchange, including, without limitation, Coeur�s reports
on Form 10-K and Form 10-Q. Actual results, developments and
timetables could vary significantly from the estimates presented.
Readers are cautioned not to put undue reliance on forward-looking
statements. Coeur disclaims any intent or obligation to update
publicly such forward-looking statements, whether as a result of
new information, future events or otherwise. Additionally, Coeur
undertakes no obligation to comment on analyses, expectations or
statements made by first parties in respect of Coeur, its financial
or operating results or its securities.
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