Delrand Resources Limited - Press Release: Delrand Provides Corporate UpdateRelease Date: 30/11/2015 09:05:00 Code(s): DRN
Delrand Resources Limited
(Incorporated in Canada)
(Corporation number 627115-4)
Share code: DRN ISIN Number: CA2472672062
(?Delrand? or the "Company")
DELRAND PROVIDES CORPORATE UPDATE
Toronto, Canada ? November 27, 2015 ? Delrand Resources Limited (?Delrand? or the
?Company?) (NEX-DRN.H; JSE-DRN) announces that it has called an annual and special
meeting of shareholders of the Company (the "Meeting") to be held on December 18,
2015. At the Meeting, shareholders of the Company will be asked to consider and, if
thought advisable, to authorize by means of a special resolution (the "Special
Resolution"), the consolidation of the issued and outstanding common shares of the
Company on a one for two basis (the "Share Consolidation").
The board of directors of the Company has determined that it would be in the best
interests of the Company to carry out the Share Consolidation in order to assist in
attracting additional capital for the Company. After giving effect to the Share
Consolidation and based on the number of common shares of the Company which are
currently outstanding (which is 21,781,581 common shares), the Company will have
approximately 10,890,791 common shares issued and outstanding, subject to the
rounding of fractional shares pursuant to the Share Consolidation. It is not proposed
that the Company?s name will be changed in conjunction with the Share
Consolidation. Shareholder approval and the acceptance of NEX are required in order
to carry out the Share Consolidation. Notwithstanding that the Special Resolution is
passed at the Meeting, the directors of the Company may revoke it at any time prior to
the filing of articles of amendment implementing the Share Consolidation, and
determine not to proceed with the Share Consolidation without further approval or
authorization of, or notice to, the shareholders of the Company.
For further information, please contact:
Arnold T. Kondrat, CEO, (416) 366-2221 or 1-800-714-7938.
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.
30 November 2015
Arbor Capital Sponsors Proprietary Limited
Date: 30/11/2015 09:05:00 Supplied by www.sharenet.co.za
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