Constantine Announces Share Consolidation Effective Date
Vancouver, BC – Constantine Metal Resources Ltd. (TSX Venture – CEM) (“Constantine” or the “Company”) is pleased to announce that it has received regulatory approval for the 4 for 1 share consolidation that was announced on May 1, 2018. The share consolidation will become effective on Friday, May 18, 2018 at market opening. There will be no change in the name or the stock symbol of the Company.
The Company is consolidating its common shares on the basis of one (1) new post-consolidation common share for every four (4) old pre-consolidation common shares (the “Consolidation”).
The Company also announces that its $10 million non-brokered private placement announced on May 1, 2018 is fully subscribed. The first tranche of the private placement is scheduled to close next week, upon receipt of regulatory approval following the effective date of the share consolidation. All securities issued in the private placement will be issued after giving effect to the Consolidation. Post financing and consolidation, total shares issued are projected to be 44,041,753 and fully diluted 61,678,885 shares.
About the Company
Constantine is a mineral exploration company led by a proven technical team with a focus on premier North American mining environments. The Company’s flagship asset is the high grade copper-zinc-silver-gold Palmer Project that is being advanced as a joint venture between Constantine (51%) and Dowa Metals & Mining Alaska Ltd. (49%), with Constantine as operator. Palmer hosts an Inferred Mineral Resource of 8.1 million tonnes grading 1.41% copper, 5.25% zinc, 0.32 g/t gold and 31.7 g/t silver*, and is located in a very accessible part of coastal Southeast Alaska, with road access to the edge of the property and within 60 kilometers of the year-round deep sea port of Haines. Constantine also controls a portfolio of high-quality, 100% owned, gold projects in the Timmins camp, Ontario. This includes the large, well located Golden Mile Property in Timmins and the Munro Croesus Gold Property that is renowned for its exceptionally high-grade past production. Management is committed to providing shareholder value through discovery, meaningful community engagement, environmental stewardship, and responsible mineral exploration and development activities that support local jobs and businesses.
Please visit the Company’s website (www.constantinemetals.com) for more detailed company and project information.
On Behalf of Constantine Metal Resources Ltd.
For further information please contact:
Garfield MacVeigh, President or Darwin Green, VP Exploration
Phone: 604-629-2348. Email: firstname.lastname@example.org