Pacific North West Capital Corp. Announces Voluntary TSX Delisting, TSX
Venture Listing and 3:1 Share Consolidation
TSX: PFN OTCQB: PAWEF Frankfurt: P7J
VANCOUVER, Jan. 9, 2014 /CNW/ - Pacific North West Capital Corp. (TSX: PFN)
(OTCQB: PAWEF) (Frankfurt: P7J) (the "Company") announces it will voluntarily
delist from the Toronto Stock Exchange ("TSX") and has been accepted for
listing by the TSX Venture Exchange ("TSX Venture") through its streamlined
Concurrent with the TSX Venture listing, the Company further announces that
pursuant to the special resolution passed by the shareholders at the Company's
Annual General and Special Meeting on October 29, 2013, the Company will
consolidate its 109,547,217 issued and outstanding common shares on the basis
of three (3) old common shares of the Company for (1) new common share of the
Effective at the opening on the TSX Venture, common shares of Pacific North
West Capital Corp. will commence trading on a post-consolidated basis and
there will be approximately 36,515,738 new common shares of the Company issued
and outstanding. Fractional shares comprising of less than one-half of one
share will be deemed to have been tendered by the registered owner to the
Company for cancellation, and will be returned to the authorized but unissued
shares of the Company. Fractional shares comprising of greater than or equal
to one-half of one share will be converted into one whole common share.The
Company does not intend to change its name or seek a new stock trading symbol
in connection with the share consolidation or the TSX Venture listing. The new
CUSIP and ISIN numbers will be 694916206 and CA6949162060 respectively.
The Board of Directors believes that a listing on the TSX Venture will provide
for greater operational efficiency and lower costs for the Company while
allowing shareholders continued liquidity on a recognized exchange. In
addition, they have approved the share consolidation and believe that the
consolidation of the common shares should enhance their marketability as an
investment and should facilitate additional financings to fund future
operations. Subject to TSX, TSX Venture and regulatory acceptance, the Company
expects a seamless transition from the TSX to the TSX Venture Exchange at
opening on Tuesday, January 14, 2014.
About Pacific North West Capital Corp.
PFN is a mineral exploration company whose philosophy is to be a project
generator, explorer and project operator in order to option/joint venture its
projects to partners for funding through to production. PFN is focused on the
discovery, exploration and development of PGM and nickel‐copper sulphide
deposits in geologically prospective regions in North America, particularly
Canada. The Company's key asset is its 100% owned River Valley PGM Project in
the Sudbury region of northern Ontario. River Valley is one of the largest
undeveloped primary PGM projects in Canada. PFN also has PGM and
nickel‐copper projects in Alaska. The Company continues to evaluate PGM and
nickel‐copper properties and projects in North America for potential
Pacific North West Capital Corp. is an International Metals Group Company.
On behalf of the Board of Directors
Chairman and CEO
The Toronto Stock Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
Disclaimer: This news release may contain certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Securities Exchange Act
of 1934, as amended. All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks and
uncertainties. 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. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with The Toronto
Stock Exchange, British Columbia Securities Commission and the United States
Securities & Exchange Commission.
SOURCE Pacific North West Capital Corp.
Tel: +1.604.685.1870 Fax: +1.604.685.8045 Email:email@example.com, or
visitwww.pfncapital.com Suite 650 - 555 West 12th Ave., Vancouver, B.C.,
Canada, V5Z 3X7
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CO: Pacific North West Capital Corp.
ST: British Columbia
NI: MNG NASDAQ
-0- Jan/09/2014 21:30 GMT
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