Puma Exploration announces TSXV Approval for the share consolidation
22 October 2019 - 1:56AM
Puma Exploration (PUMA-TSXV) is pleased to announce that following
its press release of October 15, 2019, it has obtained all
necessary approvals from the TSX Venture Exchange to consolidate
its common shares on the basis of 10 pre-consolidation common
shares for 1 post-consolidation common share. The consolidation
will be effective at the opening of markets on Friday, October 25,
2019 (the « Effective Date »). The symbol for the common shares of
Puma remains unchanged.
At the Effective Date, Puma will have 27,609,972
post-consolidated common shares issued and outstanding.
Puma has already sent a letter of transmittal to
its registered shareholders outlining the procedures to follow in
order to exchange their current certificates representing common
shares of Puma for share certificates or DRS Advice Statements
representing the post-consolidation common shares. Shareholders are
asked to carefully read the instructions on the letter of
transmittal in order to proceed with such exchange and can contact
TSX Trust Company at 1-866-600-5869 for any questions in connection
with the exchange.
DEAR STRATEGYIn connection with
the current reorganization of the Company, Puma has defined a
four-part strategy for 2019-2020 and beyond:
Development, Exploration,
Acquisition and
Royalties/Ownership (DEAR).
Each part of this strategy is aimed at
generating value for shareholders and are defined as follows:
- Development of the Murray Brook Deposit, where
the gossan and oxide zones will be investigated to determine the
economics and upside potential of the precious metal contents and
recovery within these zones. The goal is to convert the surface
zone materials that were previously categorized as waste to
potential mineable ore.
- Exploration of our advanced stage projects
located at the Murray Brook Deposit and Chester Property, aimed at
discovering new satellite and contiguous deposits with our
drill-ready targets. The objective is to define the 10 best
drilling targets at Murray Brook and Chester.
- Acquisition of prospective new properties
using our expertise and knowledge acquired in the last 15 years of
exploration in New Brunswick will offer a variety of different
metals exposures and potentially allow us to make new discoveries
within these potential new properties.
- Royalties and ownership gained through the
sell-off of non-core assets to third parties represent a potential
major financial upside without direct dilution. Currently, Puma
holds 14,200,000 shares (48%) of Target Minerals Inc. (1% NSR on
Nicholas-Denys) and 100% of Murray Brook Minerals Inc. (0.67% NSR
on Murray Brook) and will hold 5,700,000 shares (8%) of BWR
Exploration Inc. (1% NSR on Little Stull Lake). Puma has also an
option agreement to sell the Red Brook Project to Rio Tinto.
ABOUT PUMA EXPLORATIONPuma is a
Canadian mineral exploration company with advanced and early stage
precious and base metals projects in Canada. While the priority
remains to secure and finalize the acquisition of the Murray Brook
project in New Brunswick, the emphasis will be directed to execute
its DEAR strategy to generate value to its shareholders. Puma is
currently holding one of the largest land packages in the prolific
Bathurst mining camp in northern New Brunswick, Canada.
QUALIFIED PERSONS AND
QC/ACTechnical information provided in this news release
was prepared and reviewed by Marcel Robillard, P.Geo., President of
Puma Exploration, qualified person as defined by NI 43-101. 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. Mr. Robillard is not independent of the Company, as is
officer and shareholders thereof.
You can visit us on Facebook and Twitter.
Learn more by consulting www.pumaexploration.com
for further information on Puma.
Marcel Robillard, President(418)
724-0901president@explorationpuma.com
Forward-Looking Statements: This press release
may contain forward-looking statements. Such forward-looking
statements involve a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Puma to be materially different from
actual future results and achievements expressed or implied by such
forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements which speak only
as of the date the statements were made, except as required by law.
Puma undertakes no obligation to publicly update or revise any
forward-looking statements. These risks and uncertainties are
described in the quarterly and annual reports and in the documents
submitted to the securities administration.
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
From Jul 2023 to Jul 2024