VANCOUVER, Nov. 1, 2018/CNW/ - Bonterra Resources Inc.(TSX-V: BTR, US: BONXF, FSE: 9BR1) (the "Company" or "Bonterra") announces that at market open on Tuesday, November 6, 2018, its common shares will begin trading on a 10 old for one new share consolidated basis. The Company's trading symbol will not change.
There are currently 397,498,708 common shares issued and outstanding. Upon consolidation, there will be approximately 39,749,870 common shares issued and outstanding. The exact number of post-consolidated shares will vary depending on the treatment of fractional shares, which will occur when each shareholder's holdings in the Company are consolidated. The Company will not issue any fractional common shares as a result of the consolidation. Instead, all fractional shares resulting from the consolidation will be rounded down to the nearest whole number. Outstanding stock options and share purchase warrants will also be adjusted by the consolidation ratio and the respective exercise prices adjusted accordingly.
Registered shareholders will receive a letter of transmittal from the Company's transfer agent, Computershare Trust Company, with instructions for exchanging their pre‑consolidated shares. Shareholders who hold their common shares through a broker or other intermediary and do not have common shares registered in their name, will not need to complete a letter of transmittal.
The Board of Directors approved the consolidation on October 11, 2018.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
Bonterra Resources Inc.
Neither the 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 release.
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SOURCE Bonterra Resources Inc.
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on Bonterra, contact Investor Relations Telephone: 1 844 233 2034, Email: ir@bonterraresources.com, Website: www.bonterraresources.com