Invenio Announces Name Change, Continuance and Share Consolidation
TORONTO, ONTARIO – February 11, 2015 – Invenio Resources Corp., (“Invenio” or the “Company”), (TSX.V: IVO), is pleased to announce that the TSX Venture Exchange (the “Exchange”) has approved the change of the Company’s name to “Greatbanks Resources Ltd.” (the “Name Change”) and the concurrent change of the Company’s stock symbol to “GTB”, and the continuance of the Company from the laws of the Province of British Columbia to the laws of the Province of Ontario (the “Continuance”), each as approved by the shareholders of the Company at the Company’s annual and special shareholders’ meeting held on December 18, 2014 (the “Shareholders’ Meeting”) and as disclosed in the Company’s news release dated January 8, 2015. Upon completion of the Name Change, and concurrently with the Continuance, the Company intends to effect the consolidation of its common shares (the “Common Shares”) on a 4 for 1 basis (the “Consolidation”). As disclosed in the Company’s news release dated January 8, 2015, the Consolidation was also approved by the shareholders of the Company at the Shareholders’ Meeting.
The Name Change is being undertaken to reflect the Company’s new focus and direction, and will take effect on Thursday, February 12, 2015. At the opening of trading on Thursday, February 12, 2015, the stock symbol of the Company will change to “GTB”.
Management expects that the Continuance will take effect on or about Thursday, February 19, 2015. Subject to the approval of the Exchange, the Consolidation will take effect concurrently with the Continuance and, at the opening of trading on Thursday, February 19, 2015, the CUSIP and ISIN numbers of the Company will change to 39154B206 and CA39154B2066 respectively. Assuming no other change in the issued capital of the Company, it is expected that, upon completion of this consolidation, the Company will have approximately 6,068,448 Common Shares issued and outstanding, reduced from 24,273,794 Common Shares which are currently issued and outstanding. The Consolidation is being completed in order to, among other things, improve the Company’s ability to facilitate future financings and to potentially improve trading liquidity of the Common Shares.
No fractional Common Shares will be issued, and no cash will be paid in lieu of fractional post-‐Consolidation Common Shares. The number of post-‐Consolidation Common Shares to be received by a shareholder will be rounded down to the nearest whole Common Share. Any outstanding options and warrants of the Company will also be adjusted on the same basis (4 for 1) as the Common Shares, with proportionate adjustments being made to exercise prices.
A letter of transmittal will be mailed to shareholders advising that: (i) the Consolidation has taken effect; and (ii)
shareholders should surrender their existing share certificates (representing pre-‐Consolidation Common Shares)
for replacement share certificates (representing post-‐Consolidation Common Shares). Until surrendered, each existing share 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. Copies of the letter of transmittal may be obtained from Computershare Investor Services Inc., the registrar and transfer agent of the Company, by mail at P.O. Box 7021, 31 Adelaide Street East, Toronto, Ontario, M5C 3H2, Attn: Corporate Actions and by hand or courier at 100 University Avenue, 8th Floor, Toronto, Ontario, M5J 2Y1, Attn: Corporate Actions. Any questions should be directed to Computershare Investor Services Inc. at 1-‐800-‐564-‐6253 (toll free) or by e-‐mail to [email protected].
Full descriptions of the Name Change, Continuance and Consolidation are contained in the Company’s management information circular dated November 18, 2014, which has been filed under the Company’s profile on SEDAR at www.sedar.com.
About Invenio
Invenio is a mining and resource issuer based in Vancouver, Canada. The Company will be focused on identifying assets and opportunities that meet the following criteria, production, near term production, enhanced exploration and special situations demonstrating a potential unique growth.
Issued on behalf of the Board of Directors of Invenio Resources Corp.
“Andrew Male”
_____________________ Andrew Male, CEO, Director
For further information, please contact Andrew Male at 1 604 561 0840, [email protected] http://www.invenioresources.com
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. This news release may contain certain forward-‐looking information, including, but not limited to, statements with respect to the completion of the Name Change, the Continuance and the Consolidation. All statements included herein, other than statements of historical fact, is forward-‐looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-‐looking information and a description of risk factors that may cause actual results to differ materially from forward-‐looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-‐looking information except in accordance with applicable securities laws.