January 19, 2016 — Vancouver, BC Paget Minerals Corp. ("Paget") (TSXV-PGS) announces that the shareholders have approved the 15 to 1 share consolidation as previously announced, at the Special Meeting today. The funds raised in the subscription receipts financing will be released to Paget shortly.
The common shares of Paget will begin trading on a consolidated basis on the TSX Venture Exchange on January 21, 2016 and will continue to trade under the same symbol: TSXV-PGS.
The funds from the private placement completed on January 5, 2016 will be released upon the TSX Venture Exchange's approvals now that shareholders have approved the consolidation. Each subscription receipt will automatically be converted into one post-consolidation common share and one post-consolidation common share purchase warrant.
Following the consolidation and with the private placement completed, the total issued and outstanding common shares of the Company will be approximately 9.1 million shares.
Paget's plan for 2016 is to identify new resource projects or other opportunities that make sense in today's resource market with a focus on adding value for the shareholders.
About Paget Minerals Corp.
Paget Minerals Corp. is a publicly traded company focused on mineral exploration and as a prospect generator continues to identify and acquire target properties in Canada and the Americas Cordillera.
On behalf of the Board
"David Volkert"
President and Chief Executive Officer
Paget Minerals Corp.
For further information, contact:
Paget Minerals Corp.
David Volkert, President and CEO
Tel: (604) 687-3520
Fax: (888) 889-4874
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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
Original Article: http://www.pagetminerals.com/s/NewsReleases.asp?ReportID=737170&_Type=News-Releases&_Title=Paget-Minerals-Shareholders-approve-Share-Consolidation
