VANCOUVER, British Columbia, Dec. 03, 2020 (GLOBE NEWSWIRE) -- Bearclaw Capital Corp. (“Bearclaw” or the “Company”) (TSX Venture Exchange: BRL.H) is pleased to announce that the TSX Venture Exchange (the “TSXV”) has approved (i) a share consolidation of the Company’s common shares on the basis of ten (10) pre-consolidation common shares to one (1) post-consolidation common share; and (ii) an increase of the Company's authorized share capital from 100,000,000 common shares to an unlimited number of common shares. The consolidation and amendment to authorized capital were previously approved by shareholders at the Company’s AGM on June 25, 2020.
The consolidation and amendment to the authorized capital will be effected prior to the opening of trading on December 7, 2020. The Company’s post-consolidation common shares will be posted for trading on the TSXV at the opening of trading on December 7, 2020, under the current symbol BLR.H and new CUSIP number 07384V201. The Company will not change its name as part of the consolidation.
The consolidation will result in the number of issued and outstanding common shares without par value of the Company being reduced from 24,371,991 common shares to 2,437,199 common shares. No fractional shares will be issued as a result of the consolidation. Any fractional shares remaining after the consolidation that are less than one-half of a common share will be cancelled while any fractional shares that are one-half of a common share or greater will be rounded up to the nearest whole common share.
The exercise price and number of common shares of the Company issuable upon the exercise of outstanding stock options, warrants or other convertible securities will be proportionately adjusted to reflect the consolidation in accordance with the terms of such securities.
Registered shareholders that hold physical share certificates will receive a letter of transmittal requesting that they forward pre-consolidation common share certificates to the Company's transfer agent, Computershare, for exchange for new share certificates representing common shares on a post-consolidation basis.
About Bearclaw Capital Corp.
Bearclaw Capital Corp. is a Canadian public mining exploration company which was incorporated in British Columbia, Canada in 1999. Bearclaw Capital trades under the symbol “BRL.H” on the Toronto Venture Exchange (TSX-V).
For further information, please contact:
Scott M. Ross, President
214-3540 West 41st Avenue
Vancouver, British Columbia, V6N 3E6
Tel: 604-803-4883
Email: scott.ross@bearclawcapitalcorp.com
Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
