Vancouver, B.C. – West Melville Metals Inc. (WMM: TSX-V) (“West Melville” or “the Company”)announces today that the directors have approved a consolidation of the Company's issued and outstanding common shares at a ratio of one (1) new share for ten (10) old shares. The Company currently has 52,605,451 common shares outstanding and after the consolidation of its share capital will have 5,260,545 outstanding.
West Melville will not seek a name change and is undertaking this consolidation of its capital to facilitate future financings. On the date hereof the directors intend to implement the consolidation as soon as practicable following the approval of the consolidation by the TSX Venture Exchange. In addition, notwithstanding approval of the consolidation by the TSX Venture Exchange, the Company's directors, in their sole discretion, may abandon the consolidation without further approval or action by, or prior notice to, shareholders.
About West Melville Metals Inc.
West Melville is a specialty metals exploration company working to advance the Isortoq iron-titanium-vanadium project in Greenland. The Company has assembled an experienced management team with a track record of discovery success and a Board of Directors with expertise covering the essential fields of geology, engineering and finance. The Isortoq Project offers a combination of low geological risk with significant upside potential in the high value specialty metal sector.
On behalf of the Board of Directors
Rory O. Moore
President and CEO
West Melville Metals Inc.
For further information about West Melville Metals Inc. or this news release, please visit our website atwww.westmelville.com or contact Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by email at [email protected].
West Melville Metals Inc. is a member of the Aurora Mineral Resource Group of companies. For more information please visit www.auroraresource.com.
Neither the 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.
Certain disclosures in this release constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to West Melville's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Other than as required by applicable securities legislation, West Melville expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
Original Article: http://www.westmelville.com/news/index.php?&content_id=77
