Callinex Completes Share Consolidation
Callinex Completes Share Consolidation
VANCOUVER
,
July 4, 2019
/CNW/ -
Callinex Mines Inc.
(the "Company" or "Callinex") (TSXV: CNX)
(OTC: CLLXF) announces that further to the Company's news release dated
June 19, 2019
the
consolidation of its issued and outstanding common shares at a ratio of ten (10) pre-consolidated
shares to one (1) post-consolidation share (the "Consolidation") will take effect on opening of
business on
July 4
, 2019. The Company's new CUSIP number is 13124L701 and its new ISIN
number is CA13124L7016.
Following the Consolidation, the Company's issued and outstanding common shares has been
reduced from 86,355,770 to 8,635,577.
A letter of transmittal will be sent by mail to registered shareholders on
July 4, 2019
advising that
the Consolidation has taken effect. The letter of transmittal will contain instructions on how
registered shareholders can exchange their share certificates and/or DRS statements evidencing
their pre-consolidated common shares for new share certificates and/or new DRS statements
representing the number of post-consolidated common shares to which they are entitled. No action
is required by non-registered shareholders (shareholders who hold their shares through an
intermediary) to effect the Consolidation. Until surrendered, each certificate representing pre-
Consolidation common shares will be deemed for all purposes to represent the number of common
shares to which the holder thereof is entitled as a result of the Consolidation.
About Callinex Mines Inc.
Callinex Mines Inc. (TSXV: CNX) (OTC: CLLXF) is advancing its portfolio of zinc rich deposits
located in established Canadian mining jurisdictions. The portfolio is highlighted by its
Nash Creek
and Superjack deposits in the Bathurst Mining District of
New Brunswick
. A 2018 PEA outlined a
mine plan that generates a strong economic return with a pre-tax IRR of a 34.1% (25.2% post-tax)
and NPV8% of
$230 million
(
$128 million
post-tax). The projects have significant exploration
upside over a district-scale land package that encompasses several high-grade mineral
occurrences along a 20 km trend.
Click here
to view a video overview of the Nash Creek Project.
Callinex has a project portfolio that also includes projects within the Flin Flon Mining District of
Manitoba
that are located 25 km to an operating processing facility that requires additional ore.
The Company's projects host Indicated resources of 13.6 Mt averaging 3.2% Zn Eq. totaling 963
million pounds and Inferred resources of 23.2 Mt averaging 5.2% Zn Eq. totaling 2.7 billion pounds
(See News Release dated
April 16, 2018
).
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.
Some statements in this news release contain forward-looking information. These statements
include, but are not limited to, statements with respect to future expenditures. These statements
address future events and conditions and, as such, involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements
to be materially different from any future results, performance or achievements expressed or
implied by the statements. Such factors include, among others, the limited operating history of the
Company. Except as required under applicable securities laws, Callinex does not assume the
obligation to update any forward-looking statement
.
View original content:
http://www.prnewswire.com/news-releases/callinex-completes-share-consolidation-300880066.html
SOURCE
Callinex Mines Inc.
View original content:
http://www.newswire.ca/en/releases/archive/July2019/04/c7752.html
%SEDAR: 00031889E
For further information:
Callinex Mines Inc., Max Porterfield, President and Chief Executive
Officer, Phone: (604) 605-0885, E-mail: [email protected]
CO: Callinex Mines Inc.
CNW 05:30e 04-JUL-19