SUPERIOR MINING INTERNATIONAL CORPORATON Announces Effective Date of Share Consolidation
NEWS RELEASE
SUPERIOR MINING INTERNATIONAL CORPORATON Announces Effective Date of Share Consolidation
June 7, 2017 TSX-V: SUI.H
Vancouver, British Columbia: Superior Mining International Corporation (the “Company”) today announced that further to the Company’s press release dated May 24, 2017, the Company’s consolidation (the “Consolidation”) of its common shares will be completed effective June 8, 2017 (the “Effective Date”) on the basis of one (1) new post- Consolidation common share for every ten (10) pre-Consolidation common shares (the “Ratio”). As a result of the Consolidation, the number of issued and outstanding common shares of the Company will be reduced from 57,886,479 pre-Consolidation common shares to 5,788,647 post-Consolidation common shares, subject to rounding for fractional shares. The Company’s name and trading symbol will remain unchanged.
No fractional post-Consolidation common shares will be issued pursuant to the Consolidation. All fractional shares resulting from the Consolidation will be rounded down to the nearest whole number. The number of common shares issuable under any of the Company’s outstanding warrants or stock options will be adjusted proportionately upon completion of the Consolidation.
Registered shareholders must submit their respective share certificate(s) representing pre-Consolidation common shares to the Company’s transfer agent, Computershare Trust Company of Canada, 510 Burrard Street, Vancouver, BC V6C 3A8, to receive share certificates representing their post-Consolidation common shares. Until so surrendered, each share certificate representing pre-Consolidation common shares will represent the number of whole post-Consolidation common shares to which the holder is entitled as a result of the Consolidation. Shareholders holding their common shares through a bank, broker or other nominee should note that banks, brokers or other nominees may have different procedures for processing the Consolidation than those put in place by the Company and Computershare Trust Company of Canada. Accordingly, shareholders who hold common shares with banks, brokers or other nominees and have questions in this regard are encouraged to contact such persons. Pre- Consolidation common shares held under DRS Advices will be automatically adjusted, in accordance with the Ratio, to reflect the number of post-Consolidated common shares.
On behalf of the Board,
Brent Butler President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release may include certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements.