|By Marketwired .||
|January 10, 2014 05:40 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/10/14 -- Cypress Hills Resource Corp. (the "Company") (TSX VENTURE: CHY) is pleased to announce that the Company has received TSX Venture Exchange (the "Exchange") approval for the consolidation of its outstanding common shares on the basis of one (1) post-consolidated common share for every three (3) pre-consolidated common shares held (the "Consolidation"). Furthermore, the Company has now filed articles of amendment effecting the Consolidation.
Effective as at the opening of trading on January 13, 2014, the consolidated common shares of the Company will commence trading on the Exchange. The new CUSIP number for the Company's post-consolidated common shares is 232792309 and the new ISIN number is CA 2327923090.
A letter of transmittal with respect to the Consolidation has been mailed to registered shareholders of the Company. All registered shareholders with physical certificates will be required to send their respective certificates representing pre-consolidated common shares along with a completed letter of transmittal to the Company's transfer agent, Computershare Investor Services Inc. ("Computershare"), in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through Computershare (Corporate Actions 1-800-564-6253). All shareholders who submit a duly completed letter of transmittal along with their respective pre-consolidated common share certificate(s) to Computershare, will receive a post-consolidated share certificate.
Fractional post-consolidation common shares will not be issued to shareholders. Where the Consolidation would otherwise result in a shareholder being entitled to a fractional common share, the number of post-consolidation common shares issued to such shareholder shall be rounded up to the next greater whole number of common shares if the fractional entitlement is equal to or greater than 0.5 and shall be rounded down to the next lesser whole number of common shares if the fractional entitlement is less than 0.5. In calculating such fractional interests, all common shares held by a beneficial holder shall be aggregated.
Neither the 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.
Cypress Hills Resource Corp.
Ted J. Fostey
President & CEO