TORONTO, ONTARIO -- (Marketwired) -- 11/05/14 -- AgriMinco Corp. (TSX VENTURE: ANO) ("AgriMinco" or "Company") announced today that, at its next annual and special meeting of shareholders (the "Meeting") scheduled to be held December 4, 2104, it will be asking shareholders to consider, and, if deemed appropriate, to approve, a special resolution approving an amendment to the Corporation's articles to consolidate its issued and outstanding common shares (the "Consolidation") on the basis of one post-consolidation common share for each 20 pre-consolidation common shares. The Company's name will remain unchanged post-Consolidation. The principal effects of the Consolidation would be that the number of common shares issued and outstanding would be reduced from 164,990,751 common shares as of November 4, 2014 to approximately 8,249,538 common shares. The Consolidation is subject to shareholder approval as well as to TSX Venture Exchange acceptance.
The Board of Directors believes that it is in the best interests of the Company to reduce the number of outstanding common shares by way of the Consolidation. The potential benefits of the Consolidation include greater investor interest, reduction in shareholder transaction costs, improved trading liquidity and greater investor interest.
Further information
Full details of the Consolidation are set out in the Company's management information circular dated November 4, 2014 available at www.sedar.com.
Commenting on this announcement, Johan Slabber, CEO of the Company said that; "The share consolidation is in line with the Company's strategy of pursuing attractive value enhancing investments, which would be facilitated by the shareholder approval for such consolidation. Agriminco has announced several new initiatives to this end and the consolidation is a further step in the restructuring resulting in a Company that has access to cash, is largely debt free and the management team's focus on cash generating opportunities."
About AgriMinco
AgriMinco Corp. is a Canadian company based in Toronto, Ontario Canada. For more information regarding AgriMinco visit our website at "www.agriminco.com".
This press release may contain forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. All statements that address future activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. Forward-looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to changes in general economic conditions or conditions in the financial markets. Such forward-looking information is based on a number of assumptions, including but not limited to, there being no significant decline in existing general business and economic conditions. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligations to update publicly or otherwise revise any forward-looking information, except as may be required by law. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company's filings with the Canadian securities regulators available on "www.sedar.com".
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
AgriMinco Corp.
Johan Slabber
Chief Executive Officer and Director
+27 72 018 5480
Johanslabber@yahoo.co.uk
AgriMinco Corp.
Bruce Cumming
Executive Director
+27 72 623 46711 / 416 907 5644
Bruce@agriminco.com
www.agriminco.com
