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RYSMF .20+++MONSTA NEWS,O/S 1.7M Toronto, Ontario--(Newsfile Corp. - July 4, 2018) - Royal Standard Minerals Inc. (OTC Pink: RYSMF) (the "Company") announces that effective July 3, 2018, the Company filed articles of amendment to effect the consolidation (the "Consolidation") of all of the issued and outstanding common shares (the "Common Shares") of the Company on the basis of one (1) new post-Consolidation Common Share for every five hundred and fifty-three (553) existing pre-Consolidation Common Shares, as approved by shareholders of the Company at its annual and special meeting held on May 24, 2018.
The Consolidation reduces the number of outstanding Common Shares from 920,835,502 to approximately 1,665,163 and proportionate adjustments will be made to any of the Company's outstanding convertible securities. No fractional Common Shares will be issued pursuant to the Consolidation and any fractional Common Shares that would have otherwise been issued will be rounded down to the nearest whole number and cancelled.
Letters of transmittal with respect to the Consolidation are being mailed to the Company's registered shareholders. All registered shareholders will be required to send their share certificates representing pre-Consolidation Common Shares, along with a properly executed letter of transmittal, to the Company's registrar and transfer agent, TSX Trust Company, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their Common Shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary for assistance in depositing their Common Shares in connection with the Consolidation. A copy of the letter of transmittal will be posted on the Company's issuer profile on SEDAR at www.sedar.com.
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