Vancouver, British Columbia (FSCwire) - Canyon Copper Corp. (“Canyon” or the “Company”) (TSX-V: CNC) announces that it intends to consolidate its issued and outstanding common shares at a ratio of three (3) pre-consolidated shares to one (1) post-consolidation share (the “Consolidation”). The purpose of the Consolidation is to facilitate the Company’s ability to attract future financings, generate greater investor interest and improve trading liquidity.
The Company currently has 19,759,802 common shares issued. Upon completion of the Consolidation, the Company anticipates there will be 6,586,601 common shares issued and outstanding.
In accordance with the Company’s Articles, the Consolidation does not require the approval of the shareholders. The Consolidation is subject to acceptance from the TSX-V.
