VANCOUVER, BC / ACCESSWIRE / April 25, 2017 / Cypress Hills Resource Corp. (CHY-H.V) (OTC PINK: CYPYF) (the "Corporation") reports that it proposes to change its name to "Tanner Ventures Inc.," or such other name as the Board of Directors may approve, and to consolidate its common shares on the basis of one (1) new common share for up to a maximum of every five (5) old common shares. There are currently 9,961,965 common shares outstanding and, following the consolidation (if at a 5:1 ratio), there will be approximately 1,992,393 shares outstanding.
The Board of Directors believe that the consolidation is in the best interests of the Shareholders, as it will better position the Corporation to obtain financing and pursue acquisition opportunities.
Shareholder approvals for the name change and consolidation are being sought at the Corporation's annual and special meeting of shareholders, scheduled for June 16, 2017. The name change and consolidation are also subject to TSX Venture Exchange approval.
For further information, please contact:
Cypress Hills Resource Corp.
Ted J. Fostey
President and Chief Executive Officer
Tel. (403) 265-7663
Neither 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.
SOURCE: Cypress Hills Resource Corp.