23:01:34 EDT Tue 14 May 2024
Enter Symbol
or Name
USA
CA



West Mining Corp
Symbol WEST
Shares Issued 61,627,312
Close 2023-11-08 C$ 0.015
Market Cap C$ 924,410
Recent Sedar Documents

West Mining to roll back shares 1:10

2023-11-08 16:55 ET - News Release

Mr. Nader Vatanchi reports

WEST MINING ANNOUNCES PROPOSED SHARE CONSOLIDATION

West Mining Corp. will complete a consolidation of the authorized and issued common shares of the company on the basis of a one postconsolidated common share for each 10 preconsolidation common shares.

Prior to the consolidation, the company has 61,627,312 preconsolidation common shares issued and outstanding. Following the consolidation, the company will have approximately 6,162,731 postconsolidation common shares issued and outstanding. No fractional common shares will be issued upon the consolidation. In the event a holder of common shares would otherwise be entitled to receive a fractional common share in connection with the consolidation, the number of common shares to be received by such shareholder will be rounded down to the next whole number and no cash consideration will be paid in respect of fractional shares. The consolidation is subject to the approval of the Canadian Securities Exchange.

The record date of the consolidation is Nov. 16, 2023, and effective at the opening of markets on Nov. 15, 2023, the common shares will commence trading on the Canadian Securities Exchange on a postconsolidation basis. The common share trading symbol WEST will remain the same. The new CUSIP No. for the postconsolidation common shares will be 954606208.

A letter of transmittal will be mailed to registered shareholders providing instructions with respect to surrendering share certificates representing preconsolidation common shares in exchange for postconsolidation common shares issued as a result of the consolidation. Until surrendered, each certificate representing preconsolidation common shares will be deemed to represent the number of postconsolidation common shares the holder received as a result of the consolidation. Shareholders who hold their common shares in brokerage accounts or in book entry form are not required to take any action. In accordance with the company's articles, the consolidation will not require shareholder approval. Outstanding West stock options and share purchase warrants will also be adjusted by the consolidation ratio, and the respective exercise prices of outstanding options and share purchase warrants will be adjusted accordingly.

About West Mining Corp.

West Mining is a mineral exploration company, acquiring and developing advanced and early-stage exploration projects. It is fully focused on its 100-per-cent-owned, 9,000-hectare prospective Kena project located near Nelson, B.C. The Kena project comprises three adjoining properties: Kena, Daylight and Athabasca. A recent National Instrument 43-101 resource estimate for Kena gave 561,900 ounces gold indicated and 2,773,100 ounces gold inferred in the Gold Mountain, Kena Gold and Daylight zones. The Kena property also hosts the large Kena copper zone, along with the historic Euphrates and Gold Cup gold-silver mines. The Daylight property contains the historic past-producing Daylight, Starlight, Victoria, Irene and Great Eastern gold mines. Along trend to the north is the Athabasca property, with the historic Athabasca gold mine. The historic mines and known mineralized zones on these three properties are structurally controlled along a 20-kilometre strike as identified by strong geophysical signatures.

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