Confederation Announces Share Consolidation
LEGAL_32454359.2
CONFEDERATION MINERALS LTD.
Suite 2250, 1055 West Hastings Street, Vancouver, British Columbia, V6E 2E9
Tel: (604) 688-9588 ♦ Fax: (778) 329-9361
Confederation Announces Share Consolidation
Vancouver, British Columbia, Canada, January 6, 2020, Confederation Minerals Ltd. (TSX-V:
CFM) (“Confederation” or the “ Company”) announces that in accordance with the Company’s
Articles, its Board of Directors has authorized the implementation of a share consolidation of the
Company's common shares on the basis of two (2) pre consolidation common shares for one (1)
post-consolidated common share (the "Consolidation"). The Consolidation will provide the
Company with a better capital structure in order to attract financing.
The Consolidation is subject to regulatory approval.
The approximately 18,126,972 common shares of the Company currently outstanding will be
reduced to approximately approximately 9,063,486 common shares. No fractional shares will be
issued. Any fractional shares resulting from the consolidation of the Common Shares shall be
converted such that each fractional Common Share remaining after conversion that is less than
one-half of a Common Share be cancelled and each fractional Common Share that is at least
one-half of a Common Share be changed to one whole Common Share. The exact number of
post-consolidated common shares will vary depending on the treatment of fractional shares
which will occur when each shareholder's holdings in the Company are consolidated.
Outstanding stock options and warrants would similarly be adjusted by the consolidation ratio.
The Company will not be changing its name and trading symbol in connection with the
Consolidation. The Common Shares will continue to be traded on the TSX Venture Exchange
under the Company’s current name and under its current stock symbol “CFM” on a post-
consolidated basis.
The Company will provide further details of the regulatory approval process in due course. This
news release was prepared on behalf of the Board of Directors.
For further information about this news release and the Company’s current activities contact
[email protected], visit our website at www.confederationmineralsltd.com or
call us at 604-688-9588.
On behalf of the Board of Directors,
Confederation Minerals Ltd.
“David Velisek”
David Velisek
CEO and Director
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.