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Central Timmins Exploration Corp. Announces Approval of Share Consolidation
Central Timmins Exploration Corp. Announces Approval of Share Consolidation Canada...
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[{"type":"text","content":"\n\n\n\nCentral Timmins Exploration Corp. Announces Approval of Share Consolidation\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Jan. 10, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n TORONTO, Jan. 10, 2020 /CNW/ - Central Timmins Exploration Corp. (\"CTEC\" or the \"Corporation\") (TSXV: CTEC) announces that at the special meeting of shareholders held on January 9, 2020, a special resolution was passed by shareholders authorizing and approving an amendment to the Corporation's articles to effect a consolidation (the \"Share Consolidation\") of the issued and outstanding common shares of the Corporation (the \"Common Shares\"). Subsequent to the special meeting, the Board of Directors elected to proceed with the Share Consolidation on the basis of one (1) post-consolidation Common Share for every six (6) pre-consolidation Common Shares. \n\n \n \n\n \nAs at the date hereof, the Corporation has 51,350,000 Common Shares issued and outstanding. Upon completion of the Share Consolidation, the number of post-consolidation Common Shares issued and outstanding will be approximately 8,558,333 (on a non-diluted basis). Any fractional Common Share resulting from the Share Consolidation will be rounded down to the nearest whole number and any such fractional interest will be cancelled without consideration.\nThe Share Consolidation remains subject to final approval by the TSX Venture Exchange. The post-consolidation Common Shares are expected to be posted for trading on the TSX Venture Exchange at the opening of trading on January 14, 2020, under the current symbol \"CTEC\".\nThe implementation of the Share Consolidation will not affect the total shareholders' equity of the Corporation or any components of shareholders' equity as reflected on the Corporation's financial statements except: (i) to change the number of issued and outstanding Common Shares; and (ii) to...