Afri-Can Marine Minerals Corp. will give effect to the consolidation of its common shares on the basis of four preconsolidation common shares for one postconsolidation common share, and the postconsolidation common shares will commence trading on the TSX Venture Exchange at the opening of markets this Thursday, July 5, 2012, under the current symbol AFA and new Cusip No. 008278202.
Afri-Can shareholders authorized the consolidation at the shareholders special meeting held on June 1, 2012.
The 238,524,984 preconsolidation common shares issued and outstanding will be consolidated into approximately 59,631,246 postconsolidation common shares. If, as a result of the consolidation, a shareholder would otherwise be entitled to a fraction of a postconsolidation common share, the number of postconsolidation common shares will be rounded to the nearest whole number. The corporation’s currently outstanding stock options and warrants will be adjusted on the same basis with proportionate adjustments being made to the stock option and warrant exercise prices.
Afri-Can will mail letters of transmittal to the registered holders of its common shares, requesting that they forward their preconsolidation common share certificates to the corporation’s transfer agent, Computershare Investor Services Inc., for exchange for new common share certificates representing their common shares on a postconsolidation basis.
