Desert STAR Resources Ltd. Announces Share Consolidation
40169|3217003_1|LSCHOOLEY
27/04/2017
DESERT STAR RESOURCES LTD.
717, 1030 West Georgia Street
Vancouver, British Columbia V6E 2Y3
Telephone: 604 639-9052
Fax: 604 628-1249
NEWS RELEASE
DESERT STAR RESOURCES LTD. ANNOUNCES SHARE CONSOLIDATION
Vancouver, BC, Canada – April 28, 2017 – Desert Sta r Resources Ltd. (TSXV: DSR) (the
"Company") announces that the TSX Venture Exchange has (the “Exchange”) approved a share
consolidation of the outstanding share capital of the Company (the "Consolidation") of the Company’s
common shares on the basis of two (2) pre-Consolidation common shares for one (1) post-Consolidation
common share.
The Consolidation will be effective at the open of the market on Monday, May 1, 2017 (the "Effective
Date"). The Company will not change its name as part of the Consolida tion, but will issue new share
certificates under a new CUSIP number, which is 25044W302. The Company's common shares will
continue to trade on the Exchange under its current symbol "DSR".
In connection with the Consolidation, the common shares issuable upon exercise of the Company’s share
purchase warrants exercisable at $0.50 per common share until July 5, 2017 (the “Warrants”), which are
listed for trading on the Exchange under the symbol DSR.WT, will be adjusted to provide that every two
Warrants will be exercisable to purchase one post -Consolidation common share at an aggregate exercise
price of $1.00. No fractional shares will be issued upon exercise of the Warrants.
The Company currently has 32,895,802 common shares and 11,374,952 Warrants issued and outstanding.
As at the Effective Date the Company will have approximately 16,447,901 post-Consolidated common
shares and 11,374,952 Warrants to purchase 5,687,476 post Consolidated common shares issued and
outstanding. No action is required to be t aken by security holders with respect to the Consolidation and
outstanding certificates representing the Company common shares and th e Warrants will not need to be
exchanged.
ON BEHALF OF THE BOARD OF DIRECTORS
OF DESERT STAR RESOURCES LTD.
"Vince Sorace"
President & CEO, Desert Star Resources Ltd.
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 NEW RELEASE MAY CONT AIN FORWARD -LOOKING STATEMENTS . THESE STATEMENTS ARE BASED ON CURRENT
EXPECTATIONS AND ASS UMPTIONS THAT ARE SU BJECT TO RISKS AND U NCERTAINTIES. ACTUAL RESULTS COULD DIFFER
MATERIALLY BECAUSE OF FACTORS DISCUSSED IN THE MANAGEMENT DI SCUSSION AND ANALYSIS S ECTION OF OUR INTERI M
AND MOST RECENT ANNU AL FINANCIAL STATEMENT OR OTHER REPORTS AND FILINGS WITH THE TSX VENTURE EXCHANGE
AND APPLICABLE CANADIAN SECURITIES REGULATIONS. WE DO NOT ASSUME ANY OBLIGATION TO UPDATE ANY FORWARD-
LOOKING STATEMENTS.