UGLY MOVE
CARIBOU ANNOUNCES SHARE CONSOLIDATION
Caribou King Resources Ltd. has proposed a consolidation of its share capital on the basis of one new common share for up to 15 existing common shares. Currently, a total of 85,103,456 common shares in the capital of the company are issued and outstanding. Accordingly, if put into effect on the basis of one new common share for 15 existing common shares, a total of 5,673,563 common shares in the capital of the company would be issued and outstanding following the consolidation, assuming no other change in the issued capital.
The consolidation will enhance the trading value of the common shares and facilitate new equity investment in the company.
The consolidation will affect all shareholders of the company uniformly and affect all of the company's stock options and warrants issued and outstanding at the effective date. At the time of the consolidation, the number, exchange basis or exercise price of all stock options and warrants issued and outstanding will be adjusted to reflect the consolidation. The actual adjustment will be made by the company in consultation with its advisers.
The board of directors of the company will ask the shareholders of the company to approve the consolidation at its annual general and special meeting of the shareholders to be held on Nov. 10, 2014.
