Welcome to San Marco Resources Inc.
San Marco Resources Inc. is a Canadian mineral exploration company with a portfolio of exploration-stage projects in Mexico and Canada, including the flagship Buck Project located in central British Columbia.
San Marco has a committed management team with extensive experience in Canada and Mexico with a proven track record in discovery to project development.
Vancouver, B.C. – September 16, 2019: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) is pleased to advise as follows:
At a special general meeting of shareholders held today, its shareholders voted in favour of a special resolution to consolidate the Company’s shares on a three (old) into one (new) basis.
- San Marco currently has 67,916,082 common shares issued and outstanding and, once the consolidation is completed, it will have 22,638,694 common shares issued and outstanding.
- The exercise price of outstanding incentive stock options to purchase 5,600,000 (1,866,667 post-consolidation) common shares will be increased accordingly to reflect the share consolidation.
- No fractional shares will be issued in the share consolidation. Instead, all resulting fractional shares of less than one-half will be rounded down to the nearest whole number, and of one-half or greater will be rounded up to the nearest whole number.
- The effective date of the share consolidation is being set, in conjunction with the TSX Venture Exchange, to occur as soon as possible.
- The consolidation is a condition of San Marco’s option agreement to acquire a 100% interest in the Buck Property, an intermediate sulphidation, epithermal gold-silver zinc property near the town of Houston in north-central British Columbia.
For the full news release click here