Business
Duran Announces Share Consolidation
TORONTO, ONTARIO--(Marketwired - April 29, 2016) - Duran Ventures Inc. (TSX VENTURE:DRV)(LMA:DRV) ("Duran" or the "Company"), further to its press releases of M
About this update from Peruvian Metals Corp.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - April 29, 2016) - Duran Ventures Inc. (TSX VENTURE:DRV)(LMA:DRV) (\"Duran\" or the \"Company\"), further to its press releases of March 17, 2016 and April 8, 2016, announces that the TSX Venture Exchange (TSXVE\") has approved a share consolidation of the Company's issued and outstanding common shares (the \"Consolidation\"). The Board of Directors of the Company has determined, in accordance with the special resolution approved by the shareholders on April 8, 2016, to consolidate the outstanding common shares at a ratio of seven (7) pre-consolidation shares to one (1) post-consolidation share (the \"Conversion Ratio\"). The Consolidation is expected to increase the Company's flexibility with respect to potential business transactions, including any possible future equity financings. The Consolidation is expected to be effective at the open of market on Monday, May 9, 2016 (the \"Effective Date\"). The Company will not change its name as part of the Consolidation, but will issue new share certificates under a new CUSIP number. No fractional shares will be issued in connection with the Consolidation. The Company's common shares will continue to trade on the TSXVE on a consolidated basis under its current symbol \"DRV\". Duran currently has 234,649,870 common shares issued and outstanding. As of the Effective Date and after giving effect to the Consolidation, the Company will have 33,521,410 common shares issued and outstanding. Registered shareholders will receive a letter of transmittal from TMX Equity Transfer Services Inc., the Company's transfer agent, with information on how to exchange their pre-Consolidation share certificates for post-Consolidation share certificates. Shares held in uncertificated form by non-registered shareholders through brokerage accounts will be converted at the Conversion Ratio through each shareholder's brokerage accounts. Non-registered shareholders should consult their broker for further information. About Duran Duran Ventures Inc. is a Canadian exploration company focused on mineral processing and the exploration and development of precious and base metal properties in Peru. Duran Ventures Inc. is a Canadian resource company listed on the TSX Venture Exchange and the Bolsa de Valores de Lima: Symbol \"DRV\" Neither the TSX Venture Exchange nor its Regulation Serv...