Revelo Sets Date for Share Consolidation
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2020) - Revelo Resources Corp. (TSXV: RVL) ("Revelo" or the "Company") announces that the date for the consolidation of its common shares on the basis of one (1) "new" common share for ten (10) "old" common shares has been set. Effective Wednesday, April 29, 2020, the common shares of the Company will commence trading on the TSX Venture Exchange on a consolidated basis under the same stock symbol "RVL". The new CUSIP number and ISIN are 761366202 and CA7613662021 respectively.
The share consolidation was originally announced in a news release dated February 6, 2020 and subsequently approved by the TSX Venture Exchange.
No fractional shares will be issued under the share consolidation. Instead, all fractional shares resulting from the consolidation of less than one-half will be rounded down to the nearest whole number, and of one-half or greater will be rounded up to the nearest whole number.
Letters of transmittal describing the process by which shareholders may obtain new certificates representing their consolidated common shares will be mailed shortly to registered shareholders. Shareholders holding their shares through a broker or other intermediary and consequently not having shares registered in their name will not be required to complete a letter of transmittal.
Following consolidation and subject to rounding, the Company will have 16,740,503 issued and outstanding common shares. All outstanding incentive stock options will be adjusted accordingly to reflect the share consolidation.
Revelo is a Canadian company listed on the TSX Venture Exchange (TSXV: RVL). Revelo has interests in an outstanding portfolio of projects prospective for gold and copper located along proven mineral belts in one of the world's top mining jurisdictions -Chile. The Company has a vision to reward shareholders with wealth-generating mineral discoveries along Chile's prime mineral belts, through leveraged and more efficient capital deployment, exploration, discovery and monetization. For more information, please visit Revelo's website.
ON BEHALF OF THE BOARD
Michael Winn, Chairman
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Revelo expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicate" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Revelo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54969