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Central Timmins Exploration Corp. Announces Proposed Share Consolidation and Commencement of Strategic Review
Central Timmins Exploration Corp. Announces Proposed Share Consolidation and Commencement ...
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[{"type":"text","content":"\n\n\n\nCentral Timmins Exploration Corp. Announces Proposed Share Consolidation and Commencement of Strategic Review\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, Nov. 21, 2019\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, Nov. 21, 2019 /CNW/ - Central Timmins Exploration Corp. (\"CTEC\" or the \"Corporation\") (TSXV: CTEC) announces its intention to consolidate the Corporation's common shares (the \"Common Shares\") on an up to 1:6 basis, subject to shareholder and regulatory approval. In addition, the board of directors of the Corporation (the \"Board\") has determined that it is in the best interests of the Corporation and its stakeholders to initiate a formal process to explore and review strategic and financing alternatives.\n\n \n \n\n \nPROPOSED SHARE CONSOLIDATIONCTEC announces that a special meeting of shareholders of the Corporation will be held on January 9, 2020 (the \"Meeting\"). At the Meeting, shareholders will be asked to consider, and, if thought appropriate, pass with or without variation, a special resolution (the \"Share Consolidation Resolution\") authorizing and approving an amendment to the Corporation's articles to effect a consolidation (the \"Share Consolidation\") of the issued and outstanding Common Shares on the basis of one (1) post-consolidation Common Share for up to six (6) pre-consolidation Common Shares, as determined by the Board in its sole discretion, and as to be more particularly described in the management information circular of the Corporation to be mailed to shareholders prior to the Meeting (the \"Information Circular\"). \nThe Board recommends shareholders vote FOR the special resolution relating to the Share Consolidation, as to be disclosed in the Information Circular. \nRequired Approvals and Effective DateThe ability of the Board to effect the Share Consolidation is subject to the approval of shareholders ...