New World Resource's Share Consolidation Effective February 18, 2014
14.02.2014 | The Newswire
New World Resource Corp. ("New World" or the "Company") announces the effective date for the share consolidation of the Company's issued share capital on the basis of six (6) old common shares for one (1) new common share ("the Consolidation"). The Consolidation is subject to TSX Venture Exchange approval and the common shares will trade on a post consolidated basis effective February 18, 2014. The Company currently has an aggregate 56,834,892 issued and outstanding common shares. After giving effect to the Consolidation, the Company will have approximately 9,472,482 common shares issued and outstanding. Outstanding stock options will similarly be adjusted by the Consolidation ratio. The Company has undertaken this share consolidation to attract financing in current market conditions and the Company will not be changing its name and trading symbol. A Letter of Transmittal with respect to the Consolidation will be mailed to the shareholders of the Company post consolidation describing the process by which shareholders may obtain new certificates representing their consolidated common shares.
About New World
New World Resource Corp. is a Canadian based exploration company focused on building a strong, diversified project portfolio within the Americas. The Company's projects include the Agua Grande gold-copper project in Chile and the Lipena/Bonete copper-gold project in Bolivia.
NEW WORLD RESOURCE CORP.
John Lando
President
For information with respect to the Company or the contents of this news release, please contact John Lando or Ian Mitchell at (604) 669-2701 or toll free at 1-800-663-0510, email at info@newworldresource.com, or visit the web site at www.newworldresource.com.
This news release includes "forward-looking information", as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, statements regarding the completion of the Consolidation and other similar statements concerning anticipated future events, and conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to exploration and development; risks arising as a result of the Company operating in Chile; the ability of the Company to obtain additional financing; including through EPG Exploration Fund funding pursuant to the Agreement; the Company's limited operating history; the need to comply with environmental and governmental regulations; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and, except as required by law, the Company is under no obligation to update or alter any forward-looking information.
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.