Business
La Quinta Resources Proposes Share Consolidation
(via Thenewswire.ca) Vancouver, B.C. June 6, 2012 - La Quinta Resources Corporation (TSX-V:...
About this update from Black Mammoth Metals Corporation
[{"type":"text","content":"\nLa Quinta Resources Proposes Share Consolidation\n\n(via Thenewswire.ca)\n\n \nVancouver, B.C. June 6, 2012 - La Quinta Resources Corporation (TSX-V: LAQ / Frankfurt: LQK / OTCBB: LQRCF) (\"La Quinta\" or \"the Company \") announces that is has scheduled an Annual and Special General Meeting to be held June 29, 2012. At the meeting, in addition to the election of Directors, appointment of the Auditor and approval of renewal of the Company's Stock Option Plan, the Shareholders will be asked to approve if required, a consolidation of the Company's share capital (\"Share Consolidation\") on a minimum 5 to 1 and a maximum of 10 to 1 basis, the final consolidation ratio to be determined by the Directors in their discretion. The issued capital of the Company is currently 90,575,385 shares issued and outstanding which, if the consolidation proceeds on a maximum 10 to 1 basis, will result in 9,057,539 shares outstanding, less fractions where applicable, following the consolidation.\n\n\n \nIn addition to the Share Consolidation, Shareholders will be asked to approve a name change of the Company to La Quinta Exploration Corporation, or to such other name as may be acceptable to management, the Registrar of Companies for the Province of British Columbia and the TSX Venture Exchange.\n\n\n \nManagement of the Company believes that the proposed Share Consolidation will better position the Company to raise the funds it requires to finance its ongoing business activities including the acquisition of mineral properties and exploration and development of its existing properties.\n\n\n \nThe Share Consolidation is subject to the acceptance for filing of the TSX Venture Exchange and receipt of Shareholder approval.\n\n\n \nAbout La Quinta Resources Corporation\n\n\n \nLa Quinta is a junior precious metals exploration company actively seeking mineral opportunities for the benefit of its stakeholders. Currently the Company is focused on exploring for gold and silver on the Easter Project, and gold, silver and base metals on its Black Jack property, both located in Nevada. The Easter Project is underlain by an epithermal quartz-adularia vein stockwork system hosted within Tertiary volcanic rocks of the Caliente Caldron Complex of southeastern Nevada. Numerous drill programs were conducted over the past 27 years by several operators. The resultant ...