2011 News |
TSX.V: CVNLAST : 0.065
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Cavan Ventures Announces Proposed Share ConsolidationDecember 12, 2011 VANCOUVER, BRITISH COLUMBIA -- Cavan Ventures Inc. ("Cavan" or the "Company") (TSX VENTURE:CVN) announced today that, subject to TSX Venture Exchange acceptance and shareholder approval, it will implement a consolidation of its issued and outstanding common shares on the basis of ten (10) old shares for one (1) new share or such lesser ratio as the board deems appropriate (the "Consolidation"). As at the close of business on November 25, 2011, there were a total of 26,371,176 common shares of the Company issued and outstanding. If the Consolidation is completed, the number of shares outstanding will be 2,637,118, or some greater number, if a consolidation ratio of less than ten (10) to one (1) is chosen by the board of directors. Shareholder approval for the Consolidation will be sought at the upcoming special meeting of shareholders scheduled for January 9, 2012 (the "Meeting"). The Company is pursuing the Consolidation as management believes that the Consolidation will enhance the Company's ability to complete future equity financings. Additionally, at the Meeting the Company proposes to change its name from "Cavan Ventures Inc." to "CanMetals Exploration Corp." or to such other name as determined by the directors of the Company, and that is acceptable to the British Columbia Registrar of Companies and the TSX Venture Exchange. About Cavan Cavan Ventures Inc. is a Vancouver based TSX Venture Exchange-listed junior mining company with acquisitions in Canada and Arizona, USA. The Company's vision is to become a globally diversified resource company with strong focuses in gold, silver, and rare earth elements. Cavan strives to become a mid-tier producer through the acquisition and development of domestic and international mining properties. On behalf of the Board of Directors: Andrew Mah, President & Director For further information please visit our website at www.cavanventures.com. This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan with respect to its performance, business and future events, including statements, with respect to its ability to undertake a further financing. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. 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. Cavan Ventures Inc.
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