Strongbow Announces Share Consolidation
25 March 2014 - 3:07AM
Marketwired Canada
Strongbow Exploration Inc. (TSX VENTURE:SBW) ("Strongbow" or the "Company")
announces that the common shares of the Company will commence trading on a
1-new-for-10-old consolidated basis at the market opening on Friday, March 28,
2014. This follows the approval of a share consolidation by Strongbow
shareholders at the annual general and special meeting held on June 26, 2013, a
decision by the Board of Directors in December 2013 to proceed with the share
consolidation.
The new CUSIP number will be 863363305 and the ISIN number will be CA8633633059.
The Company will continue to trade under the symbol "SBW". Letters of
transmittal describing the process by which shareholders may obtain new
certificates representing their consolidated common shares will be mailed
shortly to registered shareholders. Shareholders who hold their shares through a
broker or other intermediary and do not have shares registered in their name
will not be required to complete a letter of transmittal. No fractional shares
will be issued under the share consolidation, and any fraction will be rounded
to the nearest whole number. Following the consolidation, Strongbow will have
issued and outstanding 9,107,716 common shares. All outstanding stock options of
the Company will be adjusted accordingly to reflect the share consolidation.
The directors believe the share consolidation will put the Company in a better
position to finance its exploration and development activities. In particular,
in light of the current market conditions, the Company believes it will be
beneficial to the current shareholders to have the issued share capital made
more attractive to future investors.
STRONGBOW EXPLORATION INC.
Kenneth A. Armstrong, President and CEO
The TSX Venture Exchange has not reviewed, and does not accept responsibility
for the adequacy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Strongbow Exploration Inc.
Ken Armstrong
President and CEO
604 668 8355
info@strongbowexploration.com
www.strongbowexploration.com
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