Palladon Announces Annual and Special Meeting and Proposed Share Consolidation
13 October 2010 - 6:46AM
Marketwired
Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX VENTURE:
PLL)(FRANKFURT: PV-1) today announced that, at its Annual and
Special Meeting of shareholders to be held on Monday, November 8,
2010 (the "Meeting"), the Company will be seeking shareholder
approval for a resolution authorizing the consolidation of its
common shares on a one (1) for ten (10) basis (the
"Consolidation"). It will be proposed, that for each ten common
shares currently held by a Palladon shareholder, the shareholder
will receive one common share. Completion of the Consolidation is
subject to the approval of Palladon shareholders by special
resolution at the Meeting as well as approval of the TSX Venture
Exchange. The Consolidation will not materially affect the
percentage ownership in the Company of shareholders even though
such ownership will be represented by a smaller number of Common
Shares. As at the date hereof, there are an aggregate of
188,964,132 common shares issued and outstanding. It is expected,
that upon completion of the Consolidation an aggregate of
approximately 18,896,413 common shares will be issued and
outstanding.
About Palladon Ventures Ltd.
Palladon Ventures Ltd. holds a significant minority interest in
CML Metals Corporation, which is focused on advancing the Iron
Mountain project, an iron ore mine located west of Cedar City,
Utah.
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.
Contacts: Palladon Ventures Ltd. John W. Cutler President and
Chief Executive Officer 801.521.5252 604.681.4760 (FAX)
info@palladonventures.com www.palladonventures.com
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