Vancouver, British Columbia–(Newsfile Corp. – April 3, 2017) – Westminster Resources Ltd. (TSXV: WMR) (the Company), announces that its board of directors has approved a resolution consolidating the Company's issued and outstanding common shares on the basis of one new common share for every ten existing common shares. Currently, the Company has 44,288,292 common shares issued and outstanding, and upon consolidation, there will be approximately 4,428,829 common shares issued and outstanding. The board of directors believes that the consolidation will help the Company complete future financings and advance its projects.
The Company also announces that it has reached agreements to settle $308,000 of outstanding debt at $0.03 per share by the issuance of 10,266,660 common shares. The shares for debt contemplated are on a pre-consolidated basis.
The share capital consolidation and shares for debt are subject to the TSX Venture Exchange acceptance.
"Glen Indra"______
Glen Indra, President.
For further information regarding Westminster Resources Ltd., please contact Bill Conlin at 604-608-0400, Toll Free: 1-877-608-0007.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or accuracy of this release.
Original Article: http://www.stockhouse.com/news/press-releases/2017/04/03/westminster-announces-consolidation-of-shares-and-proposed-shares-for-debt
