TORONTO, ONTARIO--(Marketwired - Oct. 22, 2015) - Copper One Inc. ("Copper One" or the "Company") (TSX VENTURE:CUO) will consolidate its common shares on the basis of one new common share for every ten common shares outstanding effective as of October 23, 2015.
Copper One currently has 68,533,854 common shares outstanding and, following the share consolidation on a ten for one basis, will have approximately 6,853,385 common shares outstanding. The change in the number of issued and outstanding common shares that will result from the share consolidation will not materially affect any shareholder's percentage ownership in Copper One, although such ownership would be represented by a smaller number of common shares.
A letter of transmittal will be sent by mail to shareholders advising that the share consolidation has taken effect and instructing shareholders to surrender the certificates evidencing their common shares for replacement certificates representing the number of common shares to which they are entitled as a result of the consolidation. Until surrendered, each certificate will be deemed for all purposes to represent the number of common shares to which the holder thereof is entitled as a result of the consolidation.
The share consolidation was approved by the shareholders of Copper One at the annual general and special meeting held on September 29, 2015. Further details regarding the share consolidation are contained in the Company's information circular dated August 25, 2015, which has been filed under the Company's profile on SEDAR at www.sedar.com.
The share consolidation remains subject to the final approval of the TSX Venture Exchange.
About Copper One Inc.
Copper One is focused on development of high-value copper projects in infrastructure rich areas of safe and secure mining jurisdictions. The Company is part of the Forbes & Manhattan Group of Companies, which has built, operated and sold mines in Canada and globally. Copper One's pipeline of projects includes the Rivière Doré copper-nickel project near Val d'Or, Quebec, and the Queylus copper-gold project in the Chibougamau mining district, Quebec.
For more information about Copper One, please visit www.copperone.com.
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the Company's future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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