Western Pacific Announces Effective Date of Consolidation
Suite 1500 – 409 Granville Street | Vancouver, BC | V6C 1T2
TSX-V: WRP
Western Pacific Announces Effective Date of Consolidation
Vancouver, British Columbia – September 19th, 2018: Western Pacific Resources Corp. (“Western Pacific” or the “Company”) (TSXV: WRP) announces that further to the Company’s news release dated September 6, 2018, the Company’s consolidation of its common share capital will be completed effective September 20, 2018 (the “Effective Date”) on the basis of one (1) new common share without par value for every ten (10) existing common shares without par value (the “Consolidation”). As a result of the Consolidation, the number of issued and outstanding common shares of the Company will be reduced from 63,023,315 pre-Consolidation common shares without par value to approximately 6,302,331 post-Consolidation common shares without par value, subject to adjustment for treatment of fractional common shares. The Company’s name and trading symbol will remain the same.
No fractional post-Consolidation common shares will be issued pursuant to the Consolidation. Where the Consolidation would otherwise result in a shareholder of the Company being entitled to a fractional common share, the number of post-Consolidation common shares issued to such shareholder shall be rounded up to the next whole number if the fractional entitlement is equal to or greater than 0.5 and shall be rounded down to the lesser whole number if the fractional entitlement is less than 0.5. In calculating such fractional common shares, all common shares held by a beneficial holder shall be aggregated.
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, 3rd Floor, 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.
On behalf of the Board,
‘Jeff Sundar”
Jeff Sundar
For more information visit the Company’s website at www.westernpacificresources.com or via email at [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. Forward-looking statements contained in this news release include, without limitation, statements in respect of the settlement of debt and development of future projects. These statements relate to future events, business prospects or opportunities and product development. All such statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Actual results and developments may differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release.
Forward-looking statements involve known and unknown risks, uncertainties, assumptions of management and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statement, including but not limited to: (a) the Company not having the financial ability to meet its exploration and development goals; (b) risks associated with the results of exploration and development activities, the interpretation of drilling results and other geological risks, estimation of mineral resources and the geology, grade and continuity of mineral deposits, project cost overruns or unanticipated costs and expenses; and (c) such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.
Although the Company believes that the expectations conveyed by the forward-looking statements are reasonable based on the information available to it on the date such statements were made, no assurances can be given as to future results, approvals or achievements. Such forward-looking statements have been made for the purpose of assisting investors in understanding the Company’s business, financial and operational performance and plans and may not be appropriate for other purposes. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The Company disclaims any duty to update any of the forward-looking statements after the date of this news release to conform such statements to actual results or to changes in the Company’s expectations except as otherwise required by applicable law.