Vancouver, BC - July 6, 2018 - AsiaBaseMetals Inc. (the "Company") (TSX-V: "ABZ") is pleased to announce that it proposes to split its common shares on a one-and-one-half-for-one basis (the "Forward Split"). The record date of the Forward Split will be Friday, July 13, 2018, subject to TSX Venture Exchange approval.
Management of the Company believes that the Forward Split will provide increased liquidity to shareholders and promote broader share ownership, which is expected to be beneficial to the Company’s shareholders.
The Forward Split will result in the Company's current issued and outstanding share capital of 24,518,685 shares, as of the date of this news release, being increased to approximately 36,778,028 issued and outstanding shares. The Forward Split is being conducted on a push-out basis. The Company’s name, CUSIP number and trading symbol will remain the same.
Any outstanding share purchase warrants and stock options will be adjusted by the same one-and-one-half-for-one ratio and the respective exercise prices of outstanding warrants and stock options will be adjusted accordingly.
Shareholders of the Company do not need to take any action with respect to the Forward Split. The Company’s transfer agent will send registered shareholders a Direct Registration System advice or share certificate representing the additional number of shares to be received as a result of the Forward Split.
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Neither the 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.
Raj Chowdhry, Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the intention to split the Company's Shares, may constitute "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company will obtain the necessary approvals of the Forward Split. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, among others, financing risks, delays in obtaining or inability to obtain required regulatory approvals and inability to complete the Forward Split. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.