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IRW-Press: Arrowstar Resources Ltd.: Proposed Share Consolidation



Published on 27 March 2014



by Press Office

(IRW-PRESS and WireNews)

Vienna, Austria


Arrowstar Resources Ltd. (“Arrowstar” or the “Company”) (TSX-V: AWS) announces that the Company proposes to undertake a consolidation of its share capital on the basis of ten (10) old common shares for one (1) new common share (the “Consolidation”). The proposed Consolidation is subject to the approval of the TSX Venture Exchange.

As of the date hereof, the Company has 69,844,702 common shares issued and outstanding. After giving effect to the proposed Consolidation, the Company would have approximately 6,984,470 common shares issued and outstanding. The Company does not propose to change the corporate name of the Company in conjunction with the Consolidation.

The Company believes that the Consolidation is necessary so that the Company will be better positioned to access the equity markets in order to raise the capital required for the Company to continue operating as a public company and to provide working capital.

Respectfully submitted
ON BEHALF OF THE BOARD

“Phillip Thomas”

Phillip Thomas
President, CEO, and Director

For further information, please contact:
Contact Name: Phillip Thomas
Email: arrowstarresources@shaw.ca

Neither the 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.

Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Arrowstar’s planned consolidation and other statements that are not historical facts. When used in this document, the words such as 'proposes,” “plan,” 'estimate,' 'expect,' 'intend,' 'may,' 'potential,' 'should,' and similar expressions are forward-looking statements. Although Arrowstar believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.


Contacts

  •  
  • Joachim Brunner
  • IRW-Press
  • PR Contact
  • Tel: +43724221193011
  •  
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Posted 2014-03-27 10:11:00