Prophecy Announces 10-for-1 Stock Split
Prophecy Announces 10-for-1 Stock Split
Vancouver, British Columbia, July 19, 2018 – Prophecy Development Corp. (“Prophecy”
or the “ Company”) ( TSX:PCY, OTCQX:PRPCF, Frankfurt:1P2N) announces following
conditional acceptance by the Toronto Stock Exchange (“ TSX”), and approval by the
Company’s shareholders at its Annual General Meeting held on June 20, 2018, that the
Company intends to split the issued and outstanding common shares (the “Shares” and each,
a “Share”) in the capital of the Company, on the basis of ten (10) new Shares for every one
(1) old Share outstanding (the “Split”).
The S hares will commence trading on a n ex -distribution and post-split basis at market
opening on August 8, 2018.
The record date for the Split will be July 31, 2018 at the close of business (the “Record Date”).
Prophecy’s transfer agent, Computershare Investor Services Inc. (“ Computershare”) will
send shareholders of record as of the Record Date , nine additional Shares for every Share
held on August 7, 2018 (the “Payment Date”).
The TSX has determined to implement the “due bill” trading procedure in connection with the
Split. Anyone purchasing a Share of Prophecy between July 30, 2018 and August 7, 2018
inclusively (the “Due Bill Period”) shall receive a due bill. Any trades that are executed on
the TSX during the Due Bill Period will be identified to ensure purchasers of Shares receive
the entitlement to the additional Shares under the Split. The due bill redemption date will be
on August 9, 2018.
The Company intends to issue the additional Shares by “push out” method via Direct
Registration System (DRS) transfer to shareholders of record.
The Shares continue to trade on the TSX under “PCY”, OTCQX under “PRPCF”, and
Frankfurt stock exchange under “1P2N” with the same CUSIP number 74347D207. No
action is required by shareholders with respect to the Split of their Shares.
The 10-for-1 Split is intended by management to e nhance trading liquidity and will increase
the number of the Company’s outstanding Shares from approximately 7,861,622 Shares to
approximately 78,616,220 Shares. Proportional adjustments will be made to the number of
Prophecy’s Shares issuable upon exercise or conversion of Prophecy's outstanding options
and warrants, as well as the applicable exercise price.
Further details of the Split are contained in the Company’s Management Information Circular
dated May 8, 2018 which may be found at www.SEDAR.com. Computershare can also be
contacted at 1-800-564-6253 for further information.
About Prophecy
Prophecy Development Corp. is a Canadian public company listed on the Toronto Stock
Exchange. Prophecy’s main objective is to develop the Gibellini primary vanadium mining
project in the Battle Mountain region in northeastern Nevada to production.
Further information on Prophecy can be found at www.prophecydev.com.
PROPHECY DEVELOPMENT CORP.
ON BEHALF OF THE BOARD
“JOHN LEE”
Executive Chairman
For more information about Prophecy, please contact Investor Relations:
+1.888.513.6286
www.prophecydev.com
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy
or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain
words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar
expressions, and statements related to matters which are not historical facts, are forward -
looking information within the meaning of applicable securities laws. S uch forward-looking
statements, which reflect management’s expectations regarding Prophecy’s future growth,
results of operations, performance, business prospects and opportunities, are based on
certain factors and assumptions and involve known and unknown risks and uncertainties
which may cause the actual results, performance, or achievements to be materially different
from future results, performance, or achievements expressed or implied by such forward -
looking statements.
These factors should be considered carefully, and readers should not place undue reliance
on the Prophecy’s forward -looking statements. Prophecy believes that the expectations
reflected in the forward-looking statements contained in this news release and the documents
incorporated by reference herein are reasonable, but no assurance can be given that these
expectations will prove to be correct. In addition, although Prophecy has attempted to identify
important factors that could cause actual actions, events or results to differ materially from
those described in forward looking statements, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended. Prophecy undertakes no
obligation to release publicly any future revisions to forward -looking statements to reflect
events or circumstances after the date of this news or to reflect the occurrence of
unanticipated events, except as expressly required by law.