Share Consolidation Proposed
SHARE CONSOLIDATION PROPOSEDUltra Uranium Corp. (“Ultra”) (TSX.V-ULU) announces that at its Annual and Special General Meeting of shareholders scheduled for July 10, 2012 it will be seeking shareholder consent to a proposed consolidation of its share capital on the basis of either three (3) or two (2) existing common shares for one (1) new common share. Click here for a pdf version of the news release.
Currently, a total of 35,786,189 common shares in the capital of the Company are issued and outstanding. Accordingly, if put into effect on the basis of the maximum authorized ratio of three (3) existing common shares for one (1) new common share, a total of 11,928,729.6 common shares in the capital of the Company would be issued and outstanding following the said consolidation, assuming no other change in the issued capital. There is currently no maximum number of authorized common shares.
Management is seeking shareholder consent to a share consolidation at the 2012 Annual and Special General Meeting to avoid the costs of calling a special meeting to obtain shareholder approval in the future should a share consolidation be deemed necessary. Management does not intend to proceed with a share consolidation at this time. However, market or other conditions may make a share consolidation advisable in the future. Obtaining shareholder approval to a share consolidation allows the Company greater flexibility in future financings. Any share consolidation is subject to shareholder approval, Management’s decision to implement it, and TSX Venture Exchange acceptance for filing.
Ultra’s common shares are listed and called for trading on the TSX Venture Exchange with the trading symbol “ULU”. Information on Ultra can be accessed at www.ultrauranium.com.
ULTRA URANIUM CORP.
PER: “James Boyce”
James Boyce, Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.