VANCOUVER, Sept. 26,
2014 /CNW/ - Rio Cristal Resources Corporation (TSXV:RCZ)
("Rio Cristal" or the
"Company") announced today that the previously announced
consolidation (the "Consolidation") of its common shares
(the "Common Shares") on the basis of (1) post-Consolidation
Common Share for every ten (10) pre-Consolidation Common Shares
will be effective as of September 29,
2014 and trading of the Common Shares will commence on a
consolidated basis on the TSX Venture Exchange (the "TSXV")
at the opening of trading on such date.
The Consolidation has been approved by the TSXV,
and a related bulletin was issued by the TSXV on September 26, 2014.
The Company's outstanding options and warrants
will also be adjusted on the same basis (10:1) as the Common
Shares, with proportionate adjustments being made to exercise
prices.
A letter of transmittal was mailed to
shareholders on September 23, 2014
advising that shareholders should surrender their existing share
certificates (representing pre-Consolidation Common Shares) for
replacement share certificates (representing post-Consolidation
Common Shares). Until surrendered, each existing share certificate
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.
Following the Consolidation, the Company will
have approximately 1,725,916 Common Shares outstanding.
About Rio Cristal Resources
Corporation
Rio Cristal Resources Corporation is a Canadian
company focused on exploration projects in Peru. The Company's shares are listed on the
TSXV under the symbol RCZ. For further information for investors,
please contact the Company via email at mgwatson@shaw.ca.
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.
This release may contain forward-looking
statements. Often, but not always, forward-looking statements can
be identified by the use of words such as "intends", "will"
or variations of such words and phrases. Forward-looking statements
involve known and unknown risks, uncertainties, and other factors
which may cause the actual results, performance, or achievements of
the Company to be materially different from any future results,
performance, or achievements expressed or implied by the
forward-looking statements. These statements are based on
management's current expectations and beliefs and are subject to a
number of risks and uncertainties. Examples of forward-looking
information in this news release include, but are not limited to,
statements with respect to the effective date of the Consolidation
and the number of post-Consolidation Common Shares. For additional
information on risks and uncertainties, see the Company's MD&A
for the year ended March 31, 2014,
which is available on SEDAR at www.sedar.com. The risk factors
identified in the Company's annual MD&A are not intended to
represent a complete list of factors that could affect the Company.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company does not assume any
obligation to update the forward-looking information contained in
this press release.
SOURCE Rio Cristal Resources Corporation