VANCOUVER, Aug. 3, 2016 /CNW/ - Alternative Earth
Resources Inc. (the "Company" or "AER") (TSX.V: AER) announced
that the Company is proceeding with the share consolidation, on the
basis of two (2) old shares for one (1) new share (the
"Consolidation"), as approved by the directors at a meeting
held on July 26, 2016. As a
result of the Consolidation, the 26,132,119 common shares which are
currently issued and outstanding will be reduced to 13,066,059
shares.
The effective date for the Consolidation will be Friday, August 5, 2016 (the "Effective
Date"). The post-Consolidation common shares of the
Company will commence trading on the TSX Venture Exchange at the
opening of the market on the Effective Date.
Letters of transmittal describing the process by which
shareholders may obtain new share certificates representing their
consolidated common shares will be mailed to the registered
shareholders. Shareholders who hold their shares through a
broker or other intermediary and do not have shares registered in
their own name will not be required to complete a letter of
transmittal. No fractional shares will be issued under the
Consolidation and any fraction will be rounded down to the nearest
whole number.
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.
SOURCE Alternative Earth Resources Inc.