Nevada Energy Metals To Proceed With 1.5-FOR-1 Share Subdivision
March 14, 2016 (Source) — Nevada Energy Metals Inc. (TSX-V: BFF)(OTC: SSMLF) (the “Company”) is pleased to announce that the Company will proceed with the subdivision of its outstanding common shares on the basis of one and one-half (1.5) new shares for every one (1) old share. In accordance with the Company’s articles, the board of directors has approved the subdivision and the Company has also received requisite approval from the TSX Venture Exchange to complete the subdivision. The directors of the Company have set a record date of March 18, 2016 for the subdivision. On March 23, 2016, being the payment and effective date for the subdivision, an aggregate of 24,132,751 additional shares will be issued to shareholders representing the additional shares they are entitled to as a result of the subdivision. The Company presently has 48,265,502 common shares issued and outstanding, such that there will be 72,398,253 post-subdivided common shares outstanding following the subdivision. Outstanding incentive stock options and warrants will also be adjusted following completion of the subdivision. The Company will not be changing its name or trading symbol in conjunction with the subdivision.
On Behalf of the Board of Directors
Chairman & CEO
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.
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