Volcanic Proposes Consolidation
VOLCANIC METALS CORP. NEWS RELEASE
VOLCANIC PROPOSES CONSOLIDATION
March 22, 2012, Vancouver – Volcanic Metals Corp. (TSX.V: VOL) (the "Company") announces that it will, at its annual general meeting scheduled for April 13, 2012, be seeking shareholder approval for a proposed consolidation of its common shares.
The Company is currently proposing to consolidate its common shares on the basis of ten (10) preconsolidation common shares for one (1) post-consolidation common share. The Company may, upon discussion and consideration by shareholders at the general meeting, reduce the proposed consolidation ratio ultimately presented to shareholders for approval at the general meeting.
Assuming the completion of the 10-for-1 consolidation, the 30,892,656 common shares currently outstanding will be consolidated to approximately 3,089,266 common shares outstanding after the consolidation.
The Board believes that the current issued capital structure is too large for the Company's present stage of development and growth strategy, and is an impediment to the attractiveness of the common shares to investors and the Company's ability to raise financing and acquisitions through the issuance of common shares. The completion of the consolidation is subject to the approval of the shareholders and the TSX Venture Exchange. The Company's name is not expected to change in conjunction with the consolidation.
To learn more, please visit the Company’s website at: www.volcanicmetals.com. For information on Volcanic Metals Corp. please contact:
Michael Iverson President & CEO (604) 856-9887
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.
Disclaimer for Forward Looking Information
This news release includes forward looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements.
Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. The Company assumes no obligation to update any forward looking statements, whether as a result of new information, future events or otherwise.