Mitchell Announces Proposed Share Consolidation
MITCHELL RESOURCES LTD.
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7 Phone: +1.604.685.9316 / Fax: +1.604.683.1585
NEWS RELEASE JUNE 29, 2016
MITCHELL ANNOUNCES PROPOSED SHARE CONSOLIDATION
Vancouver, Canada – Mitchell Resources Ltd. (“Mitchell” or the “Company”) (TSXV: MI) Mr. Nick DeMare, President, announces that the Board of Directors has approved an alteration to the Company's share structure by consolidating all of the Company’s issued and outstanding common shares on the basis of two (2) old common shares for one (1) new common share. The share consolidation will reduce the 21,045,998 shares of the Company currently issued and outstanding to approximately 10,522,999 shares. No fractional shares will be issued. Any fraction of a share will be rounded down to the nearest whole number of common shares.
The above share consolidation is subject to TSX Venture Exchange approval and will be effected upon receipt of such approval.
Management believes that the share consolidation is necessary to provide the Company with a share structure that will better attract capital financing and that will provide for future growth opportunities.
On behalf of the Board, Company Information
“Nick DeMare” 1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7 Nick DeMare, President & CEO Company Contact: Nick DeMare +1 (604) 685 9316
Forward Looking Statements This Company news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information available to the Company's management as of the date of this news release. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer or landholders relations, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
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 news release.