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Coronado Proposes Share Consolidation and Name Change
VANCOUVER, Dec. 7, 2011 /CNW/ - Coronado Resources Ltd. (TSX-V: CRD) has instructed its sol...
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[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Dec. 7, 2011 /CNW/ - Coronado Resources Ltd. (TSX-V: CRD) has instructed its solicitors to convene a shareholder meeting on\n February 23rd 2012 at which time, the Company will request shareholders to approve a\n share consolidation. Coronado will request that the shareholders\n approve by ordinary resolution a consolidation of its outstanding share\n capital on the basis of one post consolidation for three\n pre-consolidation shares.  This consolidation will increase Coronado's\n flexibility and better position the Company for future funding.\n\n\nCoronado currently has 29,223,048 shares issued and outstanding and\n after the consolidation the Company will have 9,741,016 common shares. \n Coronado will also seek approval for a name change in conjunction with\n the consolidation.  The completion of the consolidation and name change\n will be subject to shareholder and regulatory approval.\n\n\nProduction and development is continuing at Madison Mine and has\n received a total of $487,740 in two payments.  Coronado is waiting\n payment for the October shipment of 532 tons recently shipped which is\n expected to be in the $500,000 range.  Funds have and will be used for\n ongoing mining expenses as well as repaying outstanding debts and loans\n which are in the order of $275,000.\n\n\nOn Behalf of the Board\"Eugene Larabie\"\nEugene Larabie, P. Eng., President\nCoronado Resources Ltd.\n#507 - 595 Howe Street, Vancouver, BC V6C 2T5\n\n\nThe foregoing information may contain forward-looking statements\n relating to the future performance of Coronado Resources Ltd. with\n regards to the use of funds from the private placement. Forward-looking\n statements, specifically those concerned with future performance, are\n subject to certain risks and uncertainties, and actual results may\n differ materially. These risks and uncertainties are detailed from time\n to time in filings with the appropriate securities commission.\n\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as\n that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this release.\n\n\n For more information contact Coronado Resources Ltd. at [email protected] or telephone at 604-683-6338 or visit our website at www.cor...