Silver Fields receives TSX-V approval for 1:10 rollback

2013-02-01 06:42 PT - News Release


Mr. Chris England reports


Silver Fields Resources Inc. has received the approval of the TSX Venture Exchange to consolidate its issued and outstanding common shares on the basis of one new share for 10 old shares in order to facilitate future financings.

At the annual and special meeting of shareholders of Silver Fields, held Jan. 18, 2013, shareholders approved a special resolution approving such consolidation. The special resolution was approved by 73 per cent of the votes cast by the holders of the common shares, who voted either in person or were represented by proxy at the meeting.

There are currently 38,602,297 issued and outstanding common shares, and the share consolidation will result in approximately 3,860,229 issued and outstanding common shares. No fractional shares will be issued upon consolidation of the common shares. If, as a result of the share consolidation, a shareholder becomes entitled to a fractional common share, such fraction will be rounded to the nearest whole common share.

The shares will trade on a postconsolidated basis effective at the opening of trading on Monday, Feb. 4, 2013.