VANCOUVER, Aug. 9, 2018 /CNW/ - Coronado Resources Ltd.
("Coronado") (NEX: CRD.H and OTC: CRDAF) announces that
Coronado's common shares will be
forward split on the basis of two (2) new common shares for each
one (1) old common share (the "Stock Split"). All shareholders of
record as at the record date of August 14,
2018 will be entitled to the Stock Split. The Stock Split is
being conducted on a "push-out" basis and therefore Coronado's CUSIP number and trading symbol
will remain the same.
In accordance with the applicable rules of the TSX Venture
Exchange, the common shares of Coronado will trade on a due bill
basis from August 13, 2018 to
August 20, 2018, being the effective
date for the share subdivision, inclusively. A due bill is an
entitlement attached to listed securities undergoing a material
corporate action, such as a stock split. In this instance, the
entitlement is to the additional common shares issuable as a result
of the Stock Split. Any trades that are executed on the NEX board
during this period will be flagged to ensure purchasers receive the
entitlement to the additional common shares issuable as a result of
the Stock Split. Ex distribution trading in the common shares on a
split-adjusted basis will commence on August
21, 2018, as of which date purchases of the common shares
will no longer have the attaching entitlement to the additional
common shares. The due bill redemption date will be August 22, 2018.
Shareholders of Coronado, with
or without a physical share certificate, do not need to take
any action with respect to the Stock Split. Coronado's transfer agent will send owners of
common shares a share certificate or DRS advice, which will
represent the additional number of common shares to be received as
a result of the Stock Split.
As a result of the Stock Split, Coronado's currently issued and outstanding
3,231,411 common shares will be increased to approximately
6,462,822 common shares.
The primary reason for the Stock Split is to make Coronado's capital structure more attractive
to a wider range of investors.
Coronado Resources Ltd.
Coronado is a Vancouver-based company pursuing business
opportunities in the technology sector. The Company's widely
distributed shares trade on the NEX Board of the TSX Venture
Exchange under the trading symbol: CRD.H. Coronado also trades on the OTC Pink market
network in the United States,
trading symbol: CRDAF.
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.
Cautionary Note Regarding Forward-Looking Statements:
Statements contained in this news release that are not
historical facts are forward-looking statements that involve
various risks and uncertainty affecting the business of
Coronado. Such statements can
generally, but not always, be identified by words such as
"expects", "plans", "anticipates", "intends", "estimates",
"forecasts", "schedules", "prepares", "potential" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur.
Forward-looking statements and information concerning the
review of all assets of Coronado are based on management's
assumptions using information currently available and include
Coronado's expectations regarding
the Stock Split. In making the forward-looking statements in this
news release, Coronado has applied
certain factors and assumptions that are based on information
currently available to Coronado as
well as Coronado's current beliefs
and assumptions made by Coronado.
Although Coronado considers these
beliefs and assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in
such forward-looking statements. Although Coronado has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking information. Coronado does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
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SOURCE Coronado Resources Ltd.