Vatic Ventures Corp. VTTCD

VCV files for 1:10 consolidation...

[lifegoeson]

The bad boys just did it again,  a 1:10 consolidation.... I was hoping for a 1:5 so they could protect some of their previous sharesholders but that wasn't the case. Unless something significant is vended into VCV, I suspect these guys will do a cheap financing ($0.04, 05 or 06 financing), rinse and repeat again. I guess it could be worse, we could still be halted and lost everything. The next card they play will tell everyone if they are serious or is this just another pump and dump play. Got our hands slapped....

VATIC ANNOUNCES 10:1 ROLLBACK
Subject to all regulatory approvals, Vatic Ventures Corp. intends to amend its share structure by consolidating its issued and outstanding common shares on the basis of one postconsolidation shares for each 10 preconsolidation shares.
The board of directors of the company believes that the consolidation is necessary to better position the company for future corporate development opportunities and financing transactions. There will be no name change in conjunction with the consolidation.
The company currently has 43,823,695 common shares issued and outstanding. Following the consolidation, it is anticipated that the company will have approximately 4,382,370 common shares issued and outstanding, and continue to trade on the NEX boards of the TSX Venture Exchange under the existing stock symbol VCV.H.
The exercise or conversion price and the number of common shares issuable under any of the company's outstanding warrants and stock options will be proportionately adjusted to reflect the consolidation in accordance with their respective terms thereof. No fractional common shares will be issued pursuant to the consolidation, and any fractional common shares that would otherwise be issued will be rounded down or up to the nearest whole number.
About Vatic Ventures Corp.
The company is actively reviewing and evaluating exploration and development opportunities in the mineral resources industry