Mr. Ted Fostey reports
CYPRESS HILLS RESOURCE CORP. ANNOUNCES NAME CHANGE AND SHARE CONSOLIDATION
Cypress Hills Resource Corp. proposes to change its name to Tanner Ventures Inc. or such other name as the board of directors may approve, and to consolidate its common shares on the basis of one new common share for up to a maximum of every five old common shares. There are currently 9,961,965 common shares outstanding, and, following the consolidation (if at a 1:5 ratio), there will be approximately 1,992,393 shares outstanding.
The board of directors believes that the consolidation is in the best interests of the shareholders as it will better position the corporation to obtain financing and pursue acquisition opportunities.
Shareholder approvals for the name change and consolidation are being sought at the corporation's annual and special meeting of shareholders scheduled for June 16, 2017. The name change and consolidation are also subject to TSX Venture Exchange approval.
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