VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 4, 2014) - Kenna Resources Corp. (TSX VENTURE:KNA) ("Kenna" or the "Corporation") announces that it has completed its continuance to British Columbia under the Business Corporations Act (British Columbia) as authorized by the shareholders of the Corporation at the annual and special meeting of Kenna held on July 23, 2014.
Consolidation
Kenna also wishes to announce that the Corporation's Board of Directors has approved a consolidation of its issued share capital on the basis of up to ten (10) old Class "A" shares for one (1) new Class "A" share. As of the date hereof, the Company has 8,416,975 Class "A" shares issued and outstanding. After giving effect to the proposed consolidation, the Corporation will have approximately 841,698 Class "A" shares issued and outstanding. However, the exact number of post-consolidated Class "A" shares will vary as no fractional shares shall be issued as a result of the Consolidation. If any fractional share would otherwise result from the Consolidation, such fractional share shall be rounded up to the nearest whole share.
The proposed share consolidation, which is subject to TSX Venture Exchange acceptance, is to assist and facilitate the future equity financing of the Corporation.
About Kenna Resource Corp.
Kenna Resources Corp. is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares in Kenna trade on the TSX Venture Exchange under the ticker symbol: KNA. Kenna's primary asset is its wholly owned Elizabeth Lake Property located 26 kilometers north of La Ronge, Saskatchewan which consists of 5 claims covering over 3,282 ha. The property is host to a historic copper deposit. Kenna's current exploration focus is on performing an airborne geophysical survey as well as a ground prospecting program on its Elizabeth Lake Property to assist in developing a winter drilling program.
On Behalf of the Board of Directors of Kenna,
Tim Fernback, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Corporation's expectations are disclosed in the Corporation's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Corporation disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.