La Quinta Resources Proposes Share Consolidation
LA QUINTA RESOURCES CORPORATION 1710 – 1177 W. Hasting Street, Vancouver, BC V6E 2L5
No.15-01 LAQ: TSX-V NEWS RELEASE SEC 12G file#82-35061
LA QUINTA RESOURCES PROPOSES SHARE CONSOLIDATION
Vancouver, B.C. November 19, 2015 - La Quinta Resources Corporation (TSX-V: LAQ / Frankfurt: LQK / OTCBB: LQRCP) (“La Quinta” or the “Company”) announces a proposed consolidation of its share capital on the basis of up to one (1) new common share of the Company for every four (4) existing common shares. The share consolidation is subject to approval of La Quinta’s shareholders at the annual general and special meeting scheduled to be held on Monday, January 4, 2016, and is subject to approval by the TSX Venture Exchange.
La Quinta currently has 10,707,166 common shares issued and outstanding. Post consolidation, there will be no less than 2,676,791 common shares issued and outstanding. Management believes that the consolidation is necessary in order to provide the Company with a share capital structure that will better attract financing and fund its operations.
Shareholders will also be asked to approve a special resolution to change the name of the Company to such name as the board of directors may, in its sole discretion, determine to be appropriate, subject to regulatory approval.
About La Quinta Resources Corporation The Company owns the Frances Bay property and the Coppertonic property. Both properties are located in B.C. and are copper gold porphyry prospects. The Company has 100% ownership of the two properties subject to an underlying royalty on the Frances Bay property. No resources have been identified on either property.
On behalf of the board,
“Dustin Henderson”
Dustin Henderson, BBA President, CEO and Corporate Secretary
La Quinta Resources Corp.
1(604) 347-9101 - Email: [email protected] - Web Site: www.laquintaresources.com
“Neither 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 document includes forward- looking statements. When used in this document, the words “potential”, “plan”, ”could”, “estimate”, “expect”, “intend”, “may”, “should”, and similar expressions are intended to be among the statements that identify forward-looking statements. Although La Quinta believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.”