Odin Announces Share Consolidation and Loans of up to $100,000
June 03 2014 - 10:32PM
Access Wire
Vancouver, British Columbia / ACCESWIRE / June
3 2014 / Odin Mining and Exploration Ltd. ("Odin") is
pleased to announce that it will borrow an aggregate principal of
up to $100,000 from certain of the lenders that previously loaned
funds to Odin as announced in its press release dated January 21,
2014.
Odin further announces that it will
proceed with a share consolidation of its issued and outstanding
common shares. The Company's name and trading symbol will remain
unchanged.
The consolidation will be
effective from June 4, 2014 at market open and carried out on the
basis of one (1) post-consolidation share for every five (5)
pre-consolidation shares. As a result of the consolidation, Odin's
currently outstanding 98,791,243 common
shares will be reduced to approximately
19,758,248 common shares. No fractional shares
will be issued. Fractional share interests of 0.50 or higher
arising from the consolidation will be rounded up to one whole
common share and any fractional share interests of less than 0.50
will be cancelled.
Registered shareholders will be
receiving a letter of transmittal from Odin's transfer agent,
Computershare Trust Company of Canada, as soon as practicable after
the effective date of the consolidation. The letter of transmittal
will enable registered shareholders to exchange their old share
certificates representing pre-consolidation common shares for new
share certificates representing post-consolidation common shares.
Until surrendered, each share certificate representing
pre-consolidation common shares 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.
On behalf of the
Board,
(signed) "Stephen
Stow"
Stephen W.C. Stow
President
Neither 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.