VANCOUVER, British Columbia, May 23, 2019 (GLOBE NEWSWIRE) -- Centenera Mining Corporation. ("Centenera" or the "Company") - (TSXV:CT) (OTCQB:CTMIF) announces that, further to a news release dated April 30, 2019 and subject to final acceptance by the TSX Venture Exchange (the "TSXV"), its board of directors has approved the consolidation (the "Consolidation") of its issued and outstanding common shares (each, a "Share") on the basis of (1) post-Consolidation Share for every four (4) pre-Consolidation Shares. In conjunction with the Consolidation, the Company also announces its intention to change its corporate name from "Centenera Mining Corporation" to "Latin Metals Inc."
The Company anticipates that the Shares will begin trading on a post-Consolidation basis under its new name and trading symbol "LMS" at market open on May 27, 2019. The Consolidation will reduce the Company's issued and outstanding Shares from 82,626,964 Shares to approximately 20,656,744 Shares. The Company's new CUSIP number and ISIN for the Shares will be 51829X109 and CA51829X1096, respectively.
The Company's board of directors believes that the Consolidation will provide the Company with greater flexibility for the continued development of its business and the growth of the Company, including possible financing arrangements.
Registered shareholders will receive a letter of transmittal from Computershare Investor Services Inc., the transfer agent for the Shares, describing the process by which shareholders may obtain new certificates representing their post-Consolidation Shares. Shares held in uncertificated form by non-registered shareholders through brokerage accounts will be converted through each shareholder's brokerage accounts. Non-registered shareholders should consult their broker for further information.
On Behalf of the Board of Directors of
CENTENERA MINING CORPORATION
President & CEO
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Neither 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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the change of the Company's corporate name, the expected effective date of the Consolidation and the expected outstanding Shares after the completion of the Consolidation and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, actual results of exploration activities, the fact that the Company's interests in its mineral properties are only options and there is no guarantee that the interests, if earned, will be certain, requirements for additional capital, future prices of precious metals, copper-gold and lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, other risks of the mining industry, the inability to obtain any necessary governmental and regulatory approvals (including TSXV approval of the name change and the Consolidation), changes in laws, regulations and policies affecting mining operations, hedging practices and currency fluctuations, as well as those factors discussed under the heading "Risks and Uncertainties" in the Company's most recent management's discussion and analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein.