Business
Wescan to Seek Approval of Proposed Share Consolidation
Wescan to Seek Approval of Proposed Share Consolidation Canada NewsWire SASKATOO...
About this update from Wescan Goldfields Inc.
[{"type":"text","content":"\n\n\n\nWescan to Seek Approval of Proposed 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\n\n\n\n\n\n\nCanada NewsWire\nSASKATOON, May 12, 2020\n\n\n\nStock Symbol: WGF: TSX-V \n SASKATOON, May 12, 2020 /CNW/ - Wescan Goldfields Inc. (\"Wescan\" or the \"Company\") announces that it intends to seek the approval of shareholders at an annual general and special meeting to be held on June 9, 2020 (the \"Meeting\") to consolidate of all of the common shares in the capital of the Company (the \"Common Shares\"). The approval sought will be the consolidation of the Common Shares on the basis of a ratio not greater than one new share for ten old shares (the \"Consolidation\"), with such ratio to be determined by the board of directors of Wescan (the \"Board\"). \nThe proposed Consolidation is subject to shareholder approval and supporting documentation being accepted for filing by the TSX Venture Exchange. In conjunction with the proposed Consolidation, Wescan also intends to seek the approval of shareholders to change of the name of the Corporation to such name as the Corporation's Board of Directors, in its sole discretion, determines.\nWescan is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Common Shares trade on the TSX Venture Exchange under the trading symbol \"WGF\".\nCaution Regarding Forward-Looking Statements\nCertain statements contained in this press release constitute forward-looking statements in respect of the Meeting and the proposed Consolidation. These forward-looking statements are based on Wescan's current beliefs as well as assumptions made by and information currently available to Wescan. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers ...