CALGARY, ALBERTA--(Marketwired - March 31, 2017) - Northern Abitibi Mining Corp. ("Northern Abitibi" or the "Corporation") (TSX VENTURE:NAI) announces that it has received approval of the TSX Venture Exchange to change its name to CANEX Metals Inc. and to consolidate the Corporation's issued and outstanding common shares on the basis of five (5) pre-consolidation shares for one (1) post-consolidation share (the "Consolidation"). The number of post-Consolidation shares issued and outstanding will be 21,461,425 common shares.
Effective at the opening of trading on April 3, 2017, the Company's pre-Consolidation common shares will be delisted and the post-Consolidation common shares will commence trading under the name CANEX Metals Inc. The Corporation's trading symbol will be changed to CANX.
DRS Advices representing the post-consolidation common shares will be issued using the Effective Date on a "push-out" basis with a notice describing the change. Share certificates representing the Northern Abitibi shares shall be cancelled on the Effective Date.
No fraction post-Consolidation common shares will be issued pursuant to the Consolidation. All fraction shares resulting from the consolidation will be rounded down to the nearest whole number and no cash consideration will be paid in respect of fractional shares. The exercise price and the number of common shares issuable under any of the Company's outstanding warrants or stock options will be proportionately adjusted upon the Consolidation.
