big ideas for global investors Search
   Member Access       Sign-up       Newsfeeds        Companies        Stock Directories       Research       Video       Funding   

Nebu Resources Inc. (TSXV: NBU) Proposes Name Change and Share Consolidation

Ideas get bigger when you share them...

Toronto, Ontario - (Newsfile Corp. - April 8, 2014) ( newswire) Nebu Resources Inc. (TSXV: NBU) ("Nebu" or, the "Company") announces that, further to its press release of yesterday announcing the mailing of materials for its upcoming annual and special shareholder meeting to be held on April 30, 2014 (the "Meeting"), as part of the Meeting agenda, the Company is proposing a name change and a consolidation of its issued and outstanding common shares.

Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner

The Company is proposing to change its name from Nebu Resources Inc. to CSM Minerals Corp. or such other name as is approved by the Board of Directors. The consolidation of Nebu's issued and outstanding common shares will be implemented on the basis of up to one (1) post-consolidation share for ten (10) pre-consolidation shares.

The name change and consolidation are subject to TSX Venture Exchange as well as shareholder approval and will be considered by shareholders at the Meeting.

As of April 7, 2014 the Company had 68,373,908 common shares issued and outstanding. If approved and implemented, the consolidation will occur simultaneously for all of the Company's common shares and will affect all shareholders uniformly. Management expects that the ratio for the consolidation will be fixed and the consolidation implemented as soon as practical following the meeting. Assuming the proposed consolidation occurs at a ratio of 1:10, the Company's outstanding shares will be reduced to approximately 6,837,391 Common Shares. The consolidation will not affect any shareholder's percentage ownership interest in the Company, except to the extent that the consolidation would otherwise result in any shareholder owning a fractional share. No fractional shares will be issued, but instead if the Consolidation would otherwise result in a shareholder holding a fraction of a share, such fractional share, if less than one-half, shall be rounded down to zero and, if equal to or greater than one-half, shall be rounded up to one and added to the number of shares which the shareholder is entitled to receive.

In addition, at the Meeting, the Company has also proposed an amendment to the articles of the Company to allow for the addition of a new class of preferred royalty shares to the Company's capital structure to provide for more flexible financing opportunities in the event the Company seeks to acquire a producing mining property.

The proposed consolidation, name change and addition of preferred royalty shares are all detailed in the Information Circular that has been distributed to shareholders in connection with the Meeting. A copy has also been made available electronically at

About Nebu Resources Inc.

Nebu Resources Inc. is a junior exploration company focused on gold exploration in Ontario, Canada, in two known mining camps: the Timmins Gold Camp, the West Kirkland Area.

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.

For further information: John V. Hickey, CFO (416) 903-6649

More Info:

This news is published on the Newswire and its syndicated partner network

Publish Your News - Send a release
News now!

Get free news alerts: Sign up here

Published at the Newswire - Big ideas for Global Investors

Disclaimer/ Disclosure:The newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info:

BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: Global investors must adhere to regulations of each country.

Free News Alerts


Investor Ideas © 2000 - 2014®, ECON

Sign up here

login | logout | about us | contact | disclaimer / disclosure |
advertise | company profile directory | partners / links |
job search | privacy policy | trade | services | sitemap |