Red Hut Approves Share Consolidation
July 11, 2015 Trading Symbol: ROB
News Release
Red Hut Approves Share Consolidation
Vancouver, British Columbia – Red Hut Metals Inc. (TSXV:ROB) (“Red Hut” or the “Company”) announces that the Board of Directors has approved a resolution consolidating the Company’s share capital on the basis of every two shares of the Company being consolidated to one share, or to such consolidation ratio as may be acceptable to the regulatory authorities and approved by the directors of the Company. Currently, the Company’s authorized share capital is an unlimited number of common shares without par value, of which 13,900,001 shares are issued and outstanding, with a further 918,750 shares reserved for issuance upon the exercise of existing stock options. There are no warrants outstanding.
The Board of Directors believes that the share consolidation will provide the Company with greater flexibility to arrange the financings it requires to move the Company forward.
The proposed share consolidation is subject to TSX Venture Exchange acceptance. The Company does not intend to undergo a name change in conjunction with the proposed consolidation.
Upon completion of the share consolidation, it is expected that on the basis of a 2:1 share consolidation, there will be approximately 6,950,000 common shares issued and outstanding, subject to shares being issued pursuant to existing stock options prior to the effective date of the consolidation and subject to adjustment for fractional shares.
ON BEHALF OF THE BOARD
Signed “Robert Eadie”
Robert Eadie, President, Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935 Facsimile: 1-604-602-4936 Website: www.redhutmetals.com Contact: Robert Eadie
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.
Suite 750, 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6 Telephone: (604) 602-4935 Fax: (604) 602-4936 E-mail: [email protected] Website: www.redhutmetals.com