Pacific Bay Minerals Ltd. Announces Effective Date for Share Consolidation
Pacific Bay Minerals Ltd. 1600 – 409 Granville Street Vancouver, BC, V6C 1T2 Phone: 604-682-2421 Fax: 604-682-7576
PACIFIC BAY MINERALS LTD. ANNOUNCES EFFECTIVE DATE FOR SHARE CONSOLIDATION
Not for Distribution to News Wire Services in the United States
For Immediate Release. Vancouver, British Columbia, July 9, 2013 - David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM, the “Company”) announces that it is proceeding with the share consolidation, on the basis of five (5) old shares for one (1) new share (the “Consolidation”), as was approved by shareholders at the Annual and Special meeting held on June 6, 2013. As a result of the Consolidation, the 62,237,614 common shares which are currently issued and outstanding will be reduced to 12,447,539 shares. The board of directors of the Company believe that in order to facilitate access to additional financing that is required for the further exploration of the Company’s properties, it would be beneficial to effect the Consolidation.
The effective date for the Consolidation will be July 9, 2013 (the “Effective Date”). The post- Consolidation common shares of the Company will commence trading on the TSX Venture Exchange at the opening of the market on the Effective Date remaining under the symbol “PBM”.
Letters of transmittal describing the process by which shareholders may obtain new share certificates representing their consolidated common shares will be mailed to the registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their own name will not be required to complete a letter of transmittal. No fractional shares will be issued under the share consolidation and any fraction will be rounded down to the nearest whole number.
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.
For investor inquiries, contact:
David H. Brett, MBA President & CEO Pacific Bay Minerals Ltd.
604.682.2421
This release includes certain forward looking statements which reflect beliefs, expectations, objectives and goals which are believed to be reasonable at the time such statements are made. Actual results could differ materially from anticipated results and may be impacted upon such factors as commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation.
9952899.1