Western Pacific Announces Proposed Share Consolidation
TSX-V: WRP
WESTERN PACIFIC ANNOUNCES PROPOSED SHARE CONSOLIDATION
Vancouver, BC, Canada – September 6th, 2018 – Western Pacific Resources Corp. (“Western Pacific” or the “Company”) (TSXV: WRP) announces a proposed consolidation of its share capital on the basis of one (1) new common share without par value for every ten (10) existing common shares without par value (the “Share Consolidation”), so that the issued and outstanding common shares of the Company are altered from 63,023,315 common shares without par value to approximately 6,302,331 common shares without par value, subject to adjustment for any further share issuances made by the Company prior to the Share Consolidation being made effective and treatment of fractional post-Share Consolidation common shares. The Company does not intend to change its name in conjunction with the Share Consolidation. Management of the Company believes that the Share Consolidation will better position the Company to raise the funds it requires to finance its ongoing business activities including the acquisition of mineral properties and exploration and development of its properties.
The Company plans to implement the Share Consolidation, subject to the acceptance by the
TSX Venture Exchange.
On behalf of the Board,
‘Jeff Sundar”
Jeff Sundar
President and Chief Executive Officer
For more information visit the Company’s website at www.westernpacificreasources.com or via email at
[email protected] or telephone at 604.646.8356.
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.