Business
West Kirkland Announces Approval of Name Change and Share Consolidation
Vancouver, British Columbia--(Newsfile Corp. - June 29, 2020) - West Kirkland Mining Inc. (TSX...
About this update from West Vault Mining Inc
[{"type":"text","content":"West Kirkland Announces Approval of Name Change and Share ConsolidationVancouver, British Columbia--(Newsfile Corp. - June 29, 2020) - West Kirkland Mining Inc. (TSXV: WKM) (\"West Kirkland\" or \"Company\") announces that, at the Annual General and Special Meeting of shareholders of the Company (the \"Meeting\") held on June 25, 2020, West Kirkland's shareholders approved the Company's change of name (the \"Name Change\") and consolidation of its issued and outstanding common shares on the basis of one (1) post-consolidation common share for every ten (10) pre-consolidation common shares (the \"Share Consolidation\"). The Company's new name will be \"West Vault Mining Inc.\". Significant shareholder support for both the Name Change and Share Consolidation was received, with over 78% of the Company's issued and outstanding common shares being voted. Approximately 99.68% and 95.64%, respectively, of the common shares voted at the Meeting were in favor of these two resolutions.The Company's common shares will begin trading under the new name and stock symbol \"WVM\" on the TSXV on a post-consolidation basis at market open on Thursday, July 2, 2020. The Company's common shares are also expected to begin trading under the new name and stock symbol \"WVMDF\" on a post-consolidation basis on the OTC Markets.The Share Consolidation will reduce the number of outstanding common shares from 425,346,309 common shares to approximately 42,534,631 post-consolidation common shares on a non-diluted basis. No fractional shares will be issued, with any fraction of a share 0.5 or greater rounded up to the nearest whole and down to the nearest whole number if less than 0.5 of a share. The number outstanding and exercise price of all of the Company's currently outstanding stock options will also be adjusted to give effect to the Share Consolidation.No further action on the part of the shareholders will be required in order for the Board to implement the Share Consolidation. Letters of transmittal describing the process by which registered shareholders may obtain new certificates representing their consolidated common shares have been mailed to registered shareholders. Common Shares held in uncertificated form by non-registered shareholders through brokerage accounts will be converted at the consolidation ratio through each shareholder's brokerage ac...