VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 22, 2014) - San Marco Resources Inc. (TSX VENTURE:SMN) ("San Marco" or "the Company") announces that a special resolution to approve the consolidation of the Company's shares on the basis of one new share for every five old shares was passed by shareholders of the Company at a Special General Meeting held in Vancouver, BC on December 22, 2014. Of the shares voted, 96% were voted in favour of the consolidation.
The Company expects the consolidation to become effective on January 5, 2015, provided final approval by the TSX Venture Exchange has been obtained. At that time, shareholders will be sent Transmittal Letters advising how to exchange their old share certificates for new share certificates. San Marco's name will not change, but its CUSIP number and ISIN will change to 798738209 and CA 7987382099, respectively. Following the consolidation, San Marco will have 12,283,712 shares outstanding, and warrants and options to purchase a further 3,030,000 shares.
About San Marco
San Marco Resources Inc. is a Canadian mineral exploration company with a portfolio of three promising properties in mining-friendly Mexico, including the Cuatro de Mayo Project in Sonora State and the recently acquired El Chunibas area concession. The Company maintains a strategic project generation program focused on high-calibre, low-opportunity cost projects in the Cuatro de Mayo District. San Marco has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value.
Forward Looking Information
Information set forth in this news release may include forward-looking statements, including the anticipated effective date of the Consolidation. While these statements reflect management's current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco's actual results, programs and financial position could differ materially from those expressed in or implied by these forward-looking statements.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.