Bell Copper Announces Proposed Share Consolidation
31 May 2012 - 9:40AM
Marketwired Canada
Bell Copper Corporation (the "Company") (TSX VENTURE:BCU) announces that a
consolidation of its common shares will be proposed to its shareholders at the
upcoming annual and special meeting of shareholders scheduled to be held on June
26, 2012.
The Company currently has 173,587,483 shares outstanding and proposes to
consolidate its common shares such that one new common share would be issued for
every seven common shares outstanding on the effective date of the
consolidation, or such lower number of common shares as may be determined by the
Board of Directors of the Company and as may be required to obtain approval of
the consolidation from the TSX Venture Exchange.
It is management's view that the share consolidation will benefit the Company by
increasing investor interest, improving trading liquidity and improving the
Company's ability to raise capital at a higher price per share.
If the share consolidation is completed on a seven for one basis, the Company
would have approximately 24,798,211 common shares outstanding,
post-consolidation.
The proposed share consolidation is subject to the approval, by special
resolution, of the shareholders of the Company and to the approval of the TSX
Venture Exchange.
The Company also announces that the La Balsa feasibility study has been
suspended pending the Company raising additional funding. The Company estimates
that approximately two months of work will be required to complete the
feasibility study following further funding.
About Bell Copper
Bell Copper is a public company with a focus on copper exploration, development
and production in North America. The Company has an extensive portfolio of
exploration and development projects located in two of North America's premier
copper producing regions: Mexico and Arizona.
More information on Bell Copper: www.bellcopper.net.
On behalf of the Board of Directors of Bell Copper Corporation
Michael Werner, CEO & Director
This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements with respect to the impact of the
share consolidation on the Company and the development potential of the
Company's properties. Generally, forward-looking information can be identified
by the use of forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including but not
limited to: general business, economic, competitive, political and social
uncertainties; acquisition risks, the actual results of current exploration
activities; delay or failure to receive board or regulatory approvals; timing
and availability of external financing on acceptable terms; the Property not
being integrated successfully or such integration proving more difficult, time
consuming or costly than expected, not realizing on the potential benefits of
the proposed transaction; conclusions of economic evaluations; changes in
project parameters as plans continue to be refined; future prices of mineral
prices; failure of plant, equipment or processes to operate as anticipated;
accidents, labour disputes and shortages and other risks of the mining industry;
and, delays in obtaining governmental approvals or required financing or in the
completion of activities. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
information. The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.
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