Trading Symbol: CCY
VANCOUVER, June 5,
2014 /CNW/ - Catalyst Copper Corp. ("Catalyst" or the
"Company") (TSX VENTURE:CCY) announces that it will proceed with
its proposed share consolidation (the "Consolidation"), as
announced in its news release dated April
29, 2014, on the basis of three (3) pre-Consolidation common
shares for one (1) post-Consolidation common share. The
Consolidation was approved by the Company's shareholders at its
Annual General and Special Meeting held on May 26, 2014, and will be effective at the open
of the market on Friday, June 6, 2014
(the "Effective Date").
As set out in Section 83 of the Business
Corporations Act (British
Columbia), if any fractional shares are to be converted into
whole shares, each fractional share following conversion that is
less than one-half of a share will be cancelled and each fractional
share that is at least one-half of a share will be changed to one
whole share.
As at the Effective Date, the Company will have approximately
9,284,886 common shares issued and outstanding. The Company
will not change its name as part of the Consolidation but will
issue new share certificates under a new CUSIP number, which is
14888C309. The Company's common shares will continue to trade
on the TSX Venture Exchange under its current symbol
"CCY".
The Company is pleased to report that all resolutions put
forward by management and the Board of Directors at the Annual
General and Special Meeting were ratified by the shareholders of
the Company, including the re-election of each of Gordon Keep, David
Laing, Matthew Lawson, and
John D. Reynolds as Directors of the
Company.
Catalyst Copper Corp. further announces that it has retained the
services of JDS Energy and Mining Inc. to review the La Verde
Project with the objective of identifying potential optimization
and value enhancement opportunities.
About Catalyst Copper:
Catalyst Copper Corp. is a copper and base metal company with a
focus on copper mining projects in Mexico. Our current focus is the La Verde copper property, which is situated in
the Sierra Madre del Sur approximately 320 kilometres west of
Mexico City in Michoacán State
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. A 43-101
Technical Report dated September 30,
2012 on the La Verde
property is filed on Sedar.
ON BEHALF OF THE BOARD OF DIRECTORS OF
CATALYST COPPER CORP.
"David Laing"
David Laing – CEO, President &
Director
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 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 Catalyst Copper Corp.