|August 10, 2017|
Resinco Capital Partners Inc. Corporate Plans
|Vancouver, BC - Resinco Capital Partners Inc. (the "Company" or "Resinco") announces that on June 23, 2017, its shareholders approved a name change and the consolidation of its shares on a 20 old for one new share basis, with the name change and consolidation at the discretion of the board of directors of Resinco and subject to the approval of the TSX Venture Exchange (the "Exchange"). The number of post-consolidation shares issued and outstanding will be approximately 6,159,994 common shares. No fractional post-Consolidation common shares will be issued pursuant to the consolidation. All fractional shares resulting from the consolidation will be rounded down to the nearest whole number and no cash consideration will be paid in respect of fractional shares. Resinco has no outstanding warrants or stock options. |
Resinco will concurrently undertake a non-brokered private placement of a minimum of 10,000,000 post-consolidated shares at an issue price of $0.10 per unit. Each unit will comprise one common share and one-half one share purchase warrant (a "Warrant"). Each whole Warrant will be exercisable to purchase one common share at an exercise price of $0.15 for a term of two years. The private placement is conditional on completion of the share consolidation and will close immediately after the consolidation. The private placement is subject to compliance with applicable securities laws and to receipt of Exchange approval. The Company reserves the right to modify the type, nature and/or price of the private placement for any reason, subject to Exchange acceptance. The Company may pay finder's fees within the allowable limits of the policies of the Exchange.
Management believes that a restructured share capital would provide the Company with greater flexibility in future investments and financings. Resinco may seek permission to change its name in connection with this consolidation.
About Resinco Capital Partners Inc.
Resinco (Resource Investment Company) is a global investment company that specializes in providing early stage financing to private and public exploration and mining companies in the hard rock minerals, precious metals, rare-earth minerals, oil, gas, water and renewable energy markets.
For more information on Resinco, please visit www.resincocp.com.
On behalf of the Board of Directors
RESINCO CAPITAL PARTNERS INC.:
Chairman, President and CEO
For more information, please contact
Doris Meyer, 604-536-2711, ext 6
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.