VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 14, 2015) – Further to its news release of November 24, 2015, Starcore International Mines Ltd. (TSX:SAM) (the “Company” or “Starcore”) announces that it has received confirmation from the Toronto Stock Exchange that effective at the opening of trading on Monday, December 14, 2015 (the “Effective Date”), the shares of the Company will commence trading on a one-for-four consolidated basis. Having received Toronto Stock Exchange acceptance for the share consolidation, on the Effective Date, the Company will have approximately 45,153,648 common shares issued and outstanding, subject to adjustment for fractional shares.
The name of the Company has not been changed, and the trading symbol remains as “SAM”. A new CUSIP number has been issued, being 85525T202. The Company has sent out its Notice to shareholders requesting them to forward their certificates representing pre-consolidated common shares of the Company to Computershare Investor Services Inc. at its principal offices in Toronto in exchange for share certificates representing the appropriate number of consolidated common shares of the Company.
The Board of Directors believes that the share consolidation will provide the Company with greater flexibility in developing its plans for its recently acquired projects and for the expansion of its exploration program at the San Martin Mine in Queretaro, Mexico.