TSX-V Trading Symbol: HRC
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VANCOUVER, Feb. 6, 2018 /CNW/ - Helio Resource Corp
("Helio" or the "Company"; TSX-V: HRC) is pleased to
announce that the TSX Venture Exchange has approved a consolidation
of the Company's common shares (the "Shares") on the basis
of one new Share for every 25 Shares currently issued and
outstanding (the "Consolidation"). The Consolidation was
approved by the Company's shareholders at the annual general and
special meeting held on October 26,
2017.
The Shares will commence trading on the TSX Venture Exchange on
a consolidated basis at the open of markets on Thursday, February 8, 2018. On a
post-Consolidation basis, the Company will have approximately
10,449,318 Shares. The Company's name and trading symbol will
remain the same.
The Company will not issue any fractional Shares as a result of
the Consolidation. Instead, each fractional post-Consolidation
Share remaining after conversion that is less than one-half of a
post-Consolidation Share will be cancelled and each fractional
post-Consolidation Share that is at least one-half of a
post-Consolidation Share will be changed to one whole
post-Consolidation Share.
The Company's options and warrants will also be adjusted on the
same basis (25 for 1) as the Shares, with proportionate adjustments
being made to exercise prices.
A full description of the Consolidation is contained in the
Company's management information circular dated September 25, 2017, which has been filed under
the Company's profile on Sedar at: www.sedar.com on October 3, 2017.
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 release.
Statements Regarding Forward-Looking Information
Certain statements contained in this news release may contain
forward-looking information within the meaning of Canadian
securities laws. Such forward-looking information is identified by
words such as "anticipated", "estimates", "intends", "expected",
"believes", "may", "will" and include, without limitation,
statements regarding the company's plan of business operations
(including plans for progressing assets), estimates regarding
mineral resources, projections regarding mineralization and
projected expenditures. There can be no assurance that such
statements will prove to be accurate; actual results and future
events could differ materially from such statements. Factors that
could cause actual results to differ materially include, among
others, metal prices, risks inherent in the mining industry,
financing risks, labour risks, uncertainty of mineral resource
estimates, equipment and supply risks, title disputes, regulatory
risks and environmental concerns. Most of these factors are outside
the control of the company. Investors are cautioned not to put
undue reliance on forward-looking information. Except as otherwise
required by applicable securities statutes or regulation, the
company expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new
information, future events or otherwise.
SOURCE Helio Resource Corp.