VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2012) - CaNickel Mining Ltd. (CML.TO) ("CaNickel" or the "Company"), announces that the Toronto Stock Exchange has approved the consolidation of its common shares ("Common Shares") on the basis of one post-consolidation Common Shares for forty (40) pre-consolidation Common Shares (the "Consolidation"). The Common Shares of the Company will be posted for trading at the opening on Monday, September 17, 2012 on a one-for-forty consolidated basis under the new CUSIP number 13758Y201.
As a result of the Consolidation, the 1,500,826,712 issued and outstanding Common Shares will be consolidated into approximately 37,520,660 Common Shares. No fractional Common Shares will be issued. Where the consolidation results in a fractional share, the number of post-consolidation Common Shares will be rounded down to the nearest whole Common Shares and all such fractional interests will be cancelled.
The Company's currently outstanding stock options and share purchase warrants will be also adjusted on the same basis with proportionate adjustments being made to the exercise prices.
Letters of Transmittal were mailed to registered shareholders of the Company's Common Shares on September 12, 2012, requesting that they forward their pre-consolidation Common Share certificates to the Company's transfer agent, Equity Financial Trust Company, at its principal office in Toronto in exchange for new share certificate representing the number of consolidated Common Shares to which they are entitled. Any questions and requests for assistance may be directed by Shareholders to the Corporate Actions Department at Equity Financial Trust Company by phone at (416) 361 - 0152 ext. 205 or by email to email@example.com.
CaNickel Mining Limited is a Canadian junior mining company that owns and operates the Bucko Lake Nickel Mine near Wabowden, Manitoba. The Company also holds nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.