Post by
RetardedClown on May 09, 2017 9:01am
Morro Bay Announces Share Consolidation
Morro Bay Announces Share Consolidation May 8, 2017 – Calgary, AB.: Morro Bay Resources Ltd. (“Morro Bay” or the “Company”) (TSX-V: MRB; OTCPink: MRRBF) announces that the Morro Bay Board of Directors has elected to proceed with the consolidation of the Company’s common shares on the basis of ten (10) pre-consolidation shares for one (1) post-consolidation share (the “Consolidation”). The Consolidation will take effect on May 9, 2017, under a new CUSIP Number. There will be no name change or trading symbol change in conjunction with the Consolidation.
The Consolidation was approved by the Company’s shareholders at the Annual General Meeting on June 30, 2016 (and as announced on July 6, 2016).
Following the Consolidation, the total issued and outstanding common shares of the Company will be approximately 9,180,096 common shares.
The Company continues to review strategic alternatives, which may include, among other things, a material re-financing of the Company, a sale of all or parts of its business, a merger (including a reverse take-over) or other business combination or other strategic transaction.