(TheNewswire)
Vancouver, BC / TheNewswire / March 2, 2017 - Berkwood Resources Ltd. (TSX-V: BKR) (the "Company") advises that the Company will be immediately filing for, and
seeking approval of, documents relating to the consolidation of the Company's issued and outstanding share capital with the TSX
Venture Exchange. The intended consolidation will be on a basis of one post-consolidation common share for every five (5)
pre-consolidation common shares. This consolidation will reduce the issued and outstanding shares of the Company from
33,910,578 to 6,782,116 shares, assuming no other change in the issued capital. The Company's outstanding options and
warrants will also be adjusted on the same basis (1 new for 5 old) as the common shares, with proportionate adjustments being made
to exercise prices. No fractional common shares will be issued, and no cash will be paid in lieu of fractional
post-consolidation common shares. The number of post-consolidation common shares to be received by a shareholder will be
rounded down to the nearest whole common share. A letter of transmittal will be mailed to shareholders advising that: (i) the
consolidation has taken effect; and (ii) shareholders should surrender their existing share certificates (representing
pre-consolidation common shares) for replacement share certificates (representing post-consolidation common shares). Until
surrendered, each existing share certificate will be deemed, for all purposes, to represent the number of common shares to which
the holder thereof is entitled as a result of the consolidation. The board of directors believes that the proposed share
consolidation is necessary to facilitate new equity investments in the Company to finance continuing business activities and to
investigate new opportunities. The Company's articles of incorporation authorize the board of directors to approve certain
changes to the Company's capital structure, including the consolidation. As such, shareholder approval is not required.
The consolidation is subject to approval by the TSX Venture Exchange. The Company does not intend to change its name or
its current trading symbol in connection with the proposed share consolidation. The effective date of the consolidation will
be disclosed in a subsequent news release. Notwithstanding the foregoing, the board of directors may, at its discretion,
determine not to effect the consolidation.
For more information on Berkwood Resources Ltd., review the website at http://berkwoodresources.com/ , contact Thomas Yingling at
604-689-1799 or email: yinglingtom@gmail.com
ON BEHALF OF THE BOARD
Thomas Yingling,
President and Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of
management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may
cause actual results, performance or developments to differ materially from those contained in the statements. No assurance
can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits
the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be incorrect.
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 release
.
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