VANCOUVER, April 13, 2012 /PRNewswire/ - Coronado Resources Ltd. (TSXV: CRD) (the "Company"): announces that effective April 17, 2012 at market open, the Company will consolidate its common shares on the basis of one (1) new post-consolidation common share for every two (2) pre-consolidation common shares. Coronado's common shares will begin trading on a post consolidated basis on the TSX Venture Exchange on April 17, 2012.
As a result of the consolidation, the Company's currently outstanding 29,223,048 common shares will be reduced to approximately 14,611,524 common shares. No fractional shares will be issued. Any fractions of a share will be rounded to the nearest whole number of common shares. The Company's name and trading symbol will remain unchanged. The consolidation was approved by shareholders at the special meeting held on February 23, 2012 and accepted by the TSX Venture Exchange on April 12, 2012.
Registered shareholders will be required to exchange their share certificates representing pre-consolidation common shares for new share certificates representing post-consolidation common shares. Registered shareholders will be sent a transmittal letter from the Company's transfer agent, Computershare Investor Services Inc., as soon as practicable after the effective date of the consolidation. The letter of transmittal will contain instructions on how certificate(s) representing pre-consolidation shares may be surrendered to Investor Services Inc. The transfer agent will forward to each registered shareholder who has provided the required documents a new share certificate representing the number of post-consolidation common shares to which the shareholder is entitled. Until surrendered, each share certificate representing pre-consolidation common shares of the Company will be deemed for all purposes to represent the number of whole post-consolidation common shares to which the holder is entitled as a result of the consolidation.
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 CORONADO RESOURCES LTD.