Wildcat Exploration proposes 1:20 rollback Wildcat Exploration Ltd (C:WEL)
Shares Issued 129,654,238
Last Close 10/9/2012 $0.02
Wednesday October 10 2012 - News Release
Mr. John Knowles reports
WILDCAT PROPOSES SHARE CONSOLIDATION
Wildcat Exploration Ltd., at the special meeting of its shareholders scheduled for Oct. 31, 2012, will be seeking shareholder consent to a proposed consolidation of its share capital on the basis of up to 20 existing common shares for one new common share and authorization for the board of directors, at any time in its absolute discretion, to determine whether or not to proceed with an approved consolidation without further approval, ratification or confirmation by the shareholders.
Currently, a total of 129,654,238 common shares in the capital of the company are issued and outstanding. Accordingly, if put into effect on the maximum authorized ratio of 20 existing common shares for one new common share, a total of 6,482,712 common shares in the capital of the company would be issued and outstanding following the consolidation, assuming no other change in the issued capital. There is currently no maximum number of authorized common shares. The share consolidation is being proposed in order to allow the company greater flexibility in future financings, and a change in the name of the company is not proposed. The share consolidation is subject to shareholder approval and TSX Venture Exchange acceptance for filing.
We seek Safe Harbor.