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4-Traders Homepage  >  Equities  >  TSX VENTURE EXCHANGE - NEX  >  Acme Resources Corp    ACYH   CA0047731074

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ACME Resources Corp. : Provides an Update of Corporate Activity

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11/10/2017 | 10:16pm CET

Toronto, Ontario--(Newsfile Corp. - November 10, 2017) - ACME Resources Corp . (TSXV: ACY.H) (the " Company") is pleased to provide a summary of the Company's recent corporate activities and its plans for the future. ACME Resources Corp. has most recently traded with symbol ACY.H on the NEX Tier of the TSX Venture Exchange though trading of the shares of the Company have been voluntarily halted since December, 2015.

The Company is currently in the process of arranging a non-brokered private-placement offering of Company equity. This private placement will comprise an offering of up to 7,000,000 common shares at a price of $CDN 0.025 (2½¢) per share (the " Offering") for gross proceeds of up to $CDN 175,000. The first tranche of 3,099,000 shares for gross proceeds of $CDN 77,475 has now been closed.

The proceeds received from the Offering will be used for general working capital purposes while the Company continues to explore options with regard to the acquisition of a (mineral) property of merit as a significant asset for the Company (this acquisition could be considered to be a "Qualifying Transaction" as such term is defined in Policy 2.4 of the TSX Venture Exchange).

All securities issued in connection with the financing will be subject to a statutory four month plus one day hold period. The Offering is subject to regulatory approval.

The Company held its Annual and Special Meeting on the 24 th of October, 2017. At that Special Meeting the Company received a majority of shareholder support to approve 1) the voluntary delisting from the TSX Venture Exchange for the purpose of seeking a listing on an alternative stock exchange; 2) to consolidate the common shares of the Company on an up to 1:5 (new:old) basis; and 3) to authorize management to change the name of the consolidated Company. A Management Information Circular providing additional details of these matters and other items put forward at the Annual and Special Meeting is available on SEDAR.

The Company currently has 6,000,950 shares outstanding (6,248,118 fully diluted).

For further information contact:

Paul Ankcorn - Chief Executive Officer
Telephone: (416) 866-2200

Cautionary Note Regarding Forward-looking Statements

Certain information in this press release may contain forward-looking statements. Such statements are based on the current expectations of the management of the Company. Trading in the securities of the Company should be considered highly speculative. Except as required by applicable securities laws, forward looking statements speak only as of the date on which they are made and, unless required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

© Newsfile Corp, source Press Releases

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Managers
NameTitle
Paul Russell Ankcorn President, Chief Executive Officer & Director
Harry Burgess Independent Director
Brian M. Howlett Independent Director
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