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Altima Intends to Complete 15:1 Consolidation
March 31, 2017 2:50 PM EDT | Source: Altima Resources Ltd.
Vancouver, British Columbia--(Newsfile Corp. - March 31, 2017) - Altima Resources Ltd. (TSXV: ARH) (FSE: AKC) (OTC Pink: ARSLF) (the Company or Altima) announces that it intends to consolidate its share capital on an 15 old shares for 1 new share basis, subject to receipt of acceptance from the TSX Venture Exchange ("TSX-V"). Shareholders approved the proposed 15:1 consolidation by Special Resolution at the Company's Annual General and Special Meeting that was held on December 12, 2016. The Company does not intend to change its name in connection with the consolidation.
Management anticipates that a consolidation will assist the Company by attracting a broader shareholder audience, ultimately enabling the Company to more readily obtain future equity financings to continue its growth through drilling and exploration.
The Company will disseminate a further News Release upon receipt of acceptance from the TSX-V, which will set out the Effective Date for the consolidation.
ON BEHALF OF THE BOARD
SIGNED: "Joe DeVries"
Joe DeVries, President and CEO
Contact: Joe DeVries (604) 336-8610
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.