Catalyst Copper Announces Share Consolidation
Trading Symbol: CCY
VANCOUVER, Dec. 23, 2013 /PRNewswire/ - Catalyst Copper Corp. ("Catalyst" or "the Company") (TSX VENTURE: CCY) announces that the TSX Venture Exchange has approved a share consolidation. On December 16, 2013, the Board of Directors approved a consolidation of the Company's common shares on the basis of up to one (1) post-consolidated share for every ten (10) pre-consolidated shares (the "Consolidation").
Commencing December 31, 2013, the Company's common shares will trade on a post-consolidation basis, under the new CUSIP number 14888C200. The Company will retain the name Catalyst Copper Corp. and trading symbol: CCY on the TSX Venture Exchange.
Currently, the Company has 278,546,513 issued and outstanding common shares. Post consolidation the Company will have approximately 27,854,651 common shares outstanding. The exact number of post-consolidated shares will vary depending on the treatment of fractional shares, which will occur when each shareholder's holdings in the Company are consolidated. Outstanding stock options and warrants will also be adjusted by the consolidation ratio and the respective exercise prices of outstanding stock options and warrants will be adjusted accordingly. Registered shareholders will receive a letter of transmittal from Computershare Trust Company, the Company's transfer agent, with instructions for exchanging their pre-consolidation shares.
Catalyst Copper Corp. further announces today that Dr. George Poling resigned from the Board of Directors effective December 18, 2013 for personal reasons. Dr. Poling has been a valuable contributor to the Board and his presence and sage advice will be missed. We wish him every success in his future endeavours.
About La Verde
La Verde is located in an area with excellent infrastructure: Roads, rail, water and power. Lazaro Cardenas, Mexico's third largest port on the Pacific Ocean is 180 km from the site. Significant upside potential remains for the two known zones of porphyry style copper, gold and silver mineralization as drill programs have shown both deposits remain open to depth and along strike.
ON BEHALF OF THE BOARD OF DIRECTORS OF
CATALYST COPPER CORP.
"John W. Greenslade"
John W. Greenslade - President, CEO (Director)
"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."
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Neither 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.
SOURCE Catalyst Copper Corp.