Mr. Charles Gryba reports
CENTRAL TIMMINS EXPLORATION CORP. ANNOUNCES COMPLETION OF SHARE CONSOLIDATION
Central Timmins Exploration Corp. (CTEC) has received TSX Venture Exchange approval and has now completed the previously announced consolidation of its share capital on the basis of 1:6. As a result of the share consolidation, the 51.35 million common shares issued and outstanding were consolidated to approximately 8,558,333 common shares. The common shares will start trading on the TSX Venture Exchange on a consolidated basis today, Jan. 14, 2020. As a result of the share consolidation, all of the company's stock options and warrants issued and outstanding as of today will be adjusted, as applicable, to reflect the share consolidation.
The new Cusip number for the consolidated common shares is 155528201. The stock symbol remains unchanged as CTEC. Shareholders who hold their common shares through a securities broker or dealer, bank or trust company will not be required to take any action with respect to the share consolidation. Letters of transmittal have been mailed to the registered holders of common shares, requesting that they forward their preconsolidation common share certificates to the company's transfer agent, TSX Trust Company, for exchange for new share certificates representing their common shares on a postconsolidation basis. No fractional shares will be issued in connection with the share consolidation.
About Central Timmins Exploration Corp.
CTEC is an early-stage Canadian junior exploration company with property primarily within the city limits of Timmins in the Porcupine mining district in the northeastern region of Ontario. The corporation's assets are prospective for gold, as well as a suite of base metals.
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