Edgewater Announces Transfer to NEX and Shareholder Approval of Share Consolidation
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 2, 2016) - Edgewater Exploration Ltd. ("Edgewater" or the "Company") (TSX VENTURE:EDW) announces the TSX Venture Exchange (the "Exchange") has advised the Company that, as it has been unable to satisfy the Continued Listing Requirements in accordance with Exchange Policy 2.5 - Continued Listing Requirements to maintain its listing as a Tier 2 issuer, effective November 4, 2016, the Company's listing will transfer to the NEX. Following the transfer, of the Company's listing, the Company's Tier classification will change from Tier 2 to NEX and the filing and service office will change from Vancouver to NEX.
The trading symbol of the Company will change from EDW to EDW.H. There is no change in the Company's name.
In addition, and further to the Company's news release dated September 8, 2016, the Company is pleased to announce that at the special meeting held on October 28, 2016, the shareholders of the Company approved the consolidation of the Company's common shares on an up to four for one basis. The Company expects to complete the consolidation following the transfer of its listing to NEX.
NEX is a separate board of the Exchange for companies previously listed on the Exchange which have failed to maintain compliance with the ongoing financial listing standards of those markets. NEX has been designed to provide a forum for the trading of publicly listed shell companies while they seek and undertake transactions in furtherance of their reactivation as companies which will carry on an active business.
About Edgewater Exploration Ltd.
Edgewater is a mineral development and exploration company focused on the development of precious metal properties.
On behalf of the board of EDGEWATER EXPLORATION LTD.
George Salamis, President and CEO
"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.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements"(collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things completion of the Consolidation. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, Edgewater does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.