Business
Pacific North West Capital Applies for Share Consolidation and Name Change to New Age Metals Inc.
(via TheNewswire) Vancouver, British Columbia / TheNewswire / January 25, 2017 - Pacific...
About this update from New Age Metals Inc
[{"type":"text","content":"Pacific North West Capital Applies for Share Consolidation and Name Change to New Age Metals Inc.(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / January 25, 2017 - Pacific North West Capital Corp. (\"PFN\") (TSXV: PFN OTCQB: PAWEF FSE: P7J) announces it has made application to the TSX Venture Exchange (the \"Exchange\") to implement a name change and share consolidation to better reflect the Company's business plan and its two mineral divisions. The Company's Board of Directors have approved a name change of the Company from Pacific North West Capital to New Age Metals Inc. In addition, due to market conditions, regulatory minimum pricing requirements for financings and other considerations, the Board of Directors have also authorized a consolidation of the Company's issued and outstanding shares on the basis of three (3) shares of Pacific North West Capital Corp. for one (1) new share of New Age Metals Inc.\n\n\n \nThe 100,098,596 common shares currently issued and outstanding will be reduced to approximately 33,366,199 post-consolidated common shares. The Company will not be issuing fractional shares as a result of the consolidation. Instead, all fractional shares equal or greater to one-half will be rounded to the next whole share. The Company's outstanding stock options and share purchase warrants will be adjusted accordingly upon completion of the consolidation.\n\n\n \nUpon receipt of regulatory approval, a letter of transmittal will be sent to the registered shareholders providing instructions to surrender the share certificates evidencing their pre-consolidated common shares for replacement certificates of New Age Metals Inc. representing the number of post-consolidated common shares they are entitled to as a result of the consolidation. Until surrendered, each certificate representing the pre-consolidated common shares will be deemed to represent the number of post-consolidated common shares of New Age Metals Inc. that the holder thereof is entitled to as a result of the consolidation.\n\n\n \nThe Name Change and Consolidation are subject to regulatory approval. The Company anticipates the transaction to close early February, 2017. Until such regulatory approvals have been received, the pre-consolidated shares will continue to trade on the TSX Venture Exchange under the current trading symbol \"PFN\...