LONGUEUIL, QC, April 1, 2014 /CNW Telbec/ - Section Rouge Média Inc. ("Section Rouge") (TSX-V: SRO), announces today that it will seek shareholders' approval at its annual and special meeting of shareholders to consolidate its common shares on a basis of one (1) share of Section Rouge for every tranche of eight (8) old shares of Section Rouge currently issued and outstanding. This consolidation will allow the number of Section Rouge's shares issued and outstanding to be reduced to around 4.96 million.
The Board of Directors considers this consolidation as an essential step in order to continue raising capital and should provide greater flexibility to fund potential upcoming projects.
The special and annual meeting will take place in Longueuil, on May 8, 2014. The consolidation is subject to the approval of shareholders and the TSX Venture Exchange.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Section Rouge Média Inc.
Section Rouge Média Inc., Jean-Pierre Rancourt, President and CEO, Tel: 450-677-2556 #222Copyright CNW Group 2014