Berkwood Resources Announces Share Consolidation - KSFY News - Sioux Falls, SD News, Weather, Sports

Berkwood Resources Announces Share Consolidation

Posted: Updated:

Vancouver, BC / ACCESSWIRE / March 19, 2014 / Berkwood Resources Ltd. (TSX-V: BKR) (“Berkwood” or the “Company”) announces that it will be implementing a three (3) for one (1) consolidation (the “Consolidation”) of the Company’s common shares (“Common Shares”). The shareholders voted in favour of the Consolidation at the Company’s annual general meeting of shareholders held on September 27, 2013. The TSX Venture Exchange has approved the Consolidation.

The Company will give effect to the Consolidation on Thursday, March 20th, 2014. The Company will not change its name as part of the Consolidation. The Company’s post-Consolidation Common Shares will be posted for trading on the TSX Venture Exchange at the opening of trading on Thursday, March 20th, 2014, under the current symbol “BKR” but with the new CUSIP number 084737204 and ISIN number CA0847372046.

The 37,668,235 Common Shares issued and outstanding prior to the Consolidation will be consolidated to approximately 12,556,078 Common Shares. Berkwood will not issue any fractional Common Shares as a result of the Consolidation. Instead, the number of post-Consolidation Common Shares issued to such shareholder shall be rounded up to the next greater whole number if the fractional entitlement is equal to or greater than 0.5 and shall be rounded down to the next lesser whole number if the fractional entitlement is less than 0.5. The Company’s currently outstanding stock options and share purchase warrants will be adjusted on the same basis with proportionate adjustments being made to the exercise prices.

Management of the Company believes that a Consolidation of its share capital will better position the Company to raise funds and increase the Company’s flexibility and competitiveness.

Letters of transmittal with respect to the Consolidation will be mailed out to all registered shareholders by the Company’s registrar and transfer agent, Computershare Investor Services Inc. (“Computershare”). The letter of transmittal will describe the process by which shareholders may obtain new certificates representing their post-Consolidation Common Shares. All registered shareholders of the Company will be required to send their certificates representing pre-Consolidation Common Shares with a properly executed letter of transmittal to Computershare in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not need to complete a letter of transmittal.

About Berkwood Resources

Berkwood Resources Ltd. is a Canadian publicly listed mineral exploration company dedicated to the acquisition, exploration and development of Precious Metal and Graphite projects. The Company is currently exploring two properties in Canada, the Prospect Valley Gold Property near Merritt, BC and the Lac Gueret East Graphite Property, located in northeastern Quebec.

On behalf of Berkwood Resources

“Brian Buchanan”

Brian Buchanan, President and Director

For additional information please contact:

Karim Sayani, Corporate Communications

Tel: (604) 662-7455 E-mail: karim@berkwoodresources.com

Tom Steer, Corporate Development

Tel: (604) 662-7455 E-mail: tomsteer@berkwoodresources.com

Forward Looking Statements

This Berkwood News Release may contain certain “forward-looking” statements and information relating to Berkwood that are based on the beliefs of Berkwood’s management as well as assumptions made by and information currently available to Berkwood’s management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitation, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. Except as required by law, Berkwood does not assume the obligation to update any forward-looking statement.

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 news release.

ReleaseID: 413265

  • Iowa man charged with murder of elderly mother

    Iowa man charged with murder of elderly mother

    Thursday, July 31 2014 3:29 PM EDT2014-07-31 19:29:59 GMT
    The Plymouth County Sheriff's Office issued an arrest warrant for 44-year-old Jonathon Neunaber on Thursday charging him with 1st Degree Murder in connection to the deaths of mother, Esther Grace Neunaber earlier this month.More >>
    The Plymouth County Sheriff's Office issued an arrest warrant for 44-year-old Jonathon Neunaber on Thursday charging him with 1st Degree Murder in connection to the deaths of mother, Esther Grace Neunaber earlier this month.More >>
  • Rapid City School Board imposing teacher contract

    Rapid City School Board imposing teacher contract

    Thursday, July 31 2014 11:54 AM EDT2014-07-31 15:54:45 GMT
    The Rapid City School Board is imposing its final contract offer to teachers after months of negotiations failed to produce an agreement.More >>
    The Rapid City School Board is imposing its final contract offer to teachers after months of negotiations failed to produce an agreement.More >>
  • Suspect in officer's killing has extensive record

    Suspect in officer's killing has extensive record

    Thursday, July 31 2014 11:45 AM EDT2014-07-31 15:45:50 GMT
    Brian Fitch, wanted in shooting of Mendota Heights police officer.Brian Fitch, wanted in shooting of Mendota Heights police officer.
    The suspect in the killing of a Mendota Heights police officer has an extensive criminal record.More >>
    The suspect in the killing of a Mendota Heights police officer has an extensive criminal record.More >>
  • South Dakota man sentenced for scissor attack in North Dakota

    South Dakota man sentenced for scissor attack in North Dakota

    Thursday, July 31 2014 11:37 AM EDT2014-07-31 15:37:23 GMT
    A South Dakota man has been sentenced to six years in prison for attacking a female store clerk with a pair of scissors in the southeastern North Dakota city of Wahpeton.More >>
    A South Dakota man has been sentenced to six years in prison for attacking a female store clerk with a pair of scissors in the southeastern North Dakota city of Wahpeton.More >>
  • First plea agreements signed in lottery scam case

    First plea agreements signed in lottery scam case

    Thursday, July 31 2014 6:45 AM EDT2014-07-31 10:45:07 GMT
    Three people have agreed to plead guilty in a Jamaican Lottery Scam targeting elderly victims in the Dakotas and elsewhere.More >>
    Three people have agreed to plead guilty in a Jamaican Lottery Scam targeting elderly victims in the Dakotas and elsewhere.
    More >>
  • Orchestra plans statehood performance in Capitol

    Orchestra plans statehood performance in Capitol

    Thursday, July 31 2014 6:31 AM EDT2014-07-31 10:31:06 GMT
    Classical music lovers can mark South Dakota's 125th anniversary of statehood and see what the state says will be the first full orchestra performance in the Capitol with more than 50 members.More >>
    Classical music lovers can mark South Dakota's 125th anniversary of statehood and see what the state says will be the first full orchestra performance in the Capitol with more than 50 members.
    More >>
  • Runners ready to fight off zombies

    Runners ready to fight off zombies

    Thursday, July 31 2014 5:03 AM EDT2014-07-31 09:03:17 GMT
    It's a 4 kilometer run with over 40 obstacles along the way. If that's not enough, runners will be fighting off zombies too. Things like climbing walls, mud pits and a corn maze full of zombies will all be found on the course for the Z Warrior Run Saturday.More >>
    It's a 4 kilometer run with over 40 obstacles along the way. If that's not enough, runners will be fighting off zombies too. Things like climbing walls, mud pits and a corn maze full of zombies will all be found on the course for the Z Warrior Run Saturday.More >>
  • Sioux Falls home vandalized

    Sioux Falls home vandalized

    Wednesday, July 30 2014 11:30 PM EDT2014-07-31 03:30:34 GMT
    Gang graffiti has been in Sioux Falls for years. Police determined some tags from 2012 were gang related. Former City Councilor Vernon Brown's house has been hit twice in that many years.More >>
    Gang graffiti has been in Sioux Falls for years. Police determined some tags from 2012 were gang related. Former City Councilor Vernon Brown's house has been hit twice in that many years.More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KSFY. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service or our EEO Report.