TORONTO, Jan. 16, 2020 (GLOBE NEWSWIRE) -- BE Resources Inc. (TSXV: BER.H) (“BE Resources” or the “Company”) announces a consolidation of its issued and outstanding share capital on the basis of one (1) post-consolidation share for each five (5) pre-consolidation common shares (the “Consolidation”). Any fraction of a share will be rounded down to the nearest whole number. The shares will begin trading on a consolidated basis and with a new CUSIP number on January 21, 2020.
As a result of the Consolidation, the outstanding shares of the Company will be reduced to approximately 4,475,627.
Management of the Company believes that the proposed share consolidation will position the Company to gain greater exposure to investors that are not willing to trade equity stocks below a certain threshold and as a result, increase the liquidity of the Company.
The Company will not be changing its name and trading symbol in connection with the Consolidation.
Trading on a Consolidated Basis: January 21, 2020
New CUSIP: 073313 306
New ISIN: US0733133062
CAUTIONARY STATEMENT:
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of BE Resources. Forward-looking statements include estimates and statements that describe BE Resources’ future plans, objectives or goals, including words to the effect that BE Resources or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Although these statements are based on information currently available to BE Resources, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward- looking information. Forward looking information in this news release includes, but is not limited to, BE Resources’ objectives, goals or future plans, statements, the company’s portfolio, treasury, management team and enhanced capital markets profile, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, to obtain required governmental, regulatory, environmental or other approvals in respect of the Company’s operations, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in BE Resources’ public documents filed on SEDAR. Although BE Resources believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. BE Resources disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
For more information:
Marie-Josée Audet
Marrelli Support Services Inc.
The Canadian Venture Building
82 Richmond St East
Toronto, Ontario M5C 1P1
T (418) 531-1060
C (416) 278-5519
maudet@marrellisupport.ca
www.marrellisupport.ca