Vancouver, December 29, 2015 – Kingsmen Resources Ltd.
(the “Company”) (TSXV: KNG) Mr. Scott Emerson, President & CEO, announces that the Board of Directors of the Company has approved an alteration to the Company's share structure by consolidating all of the Company’s issued and outstanding common shares on the basis of two (2) old common shares for one (1) new common share. The share consolidation will reduce the 17,788,759 shares of the Company currently issued and outstanding to approximately 8,894,379 shares. No fractional shares will be issued. Any fraction of a share will be rounded down to the nearest whole number of common shares. The share consolidation is subject to TSX Venture Exchange approval and will be implemented upon receipt of such approval.
Over the past 18 months, the company has either sold or divested itself of its noncore mineral assets in addition to consolidating its mineral interests in Hostotipaquillo mining district of Mexico. The Company now holds 5 mineral concessions which make up the 100% owned La Trini Silver Deposit. Management believes that the share consolidation is necessary to provide the Company with a share structure that will better attract capital financing and that will provide for future growth opportunities.
On behalf of the Board,
Scott Emerson, President & CEO
Kingsmen Resources Ltd.
Scott Emerson at (604) 668.5909 or
Forward Looking Statements This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
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