December 15, 2009
Platoro West Holdings Inc. (the "Company" or "Platoro") announced on May 29, 2009 a return of capital transaction by way of a share exchange under the call-in method. The record date for the share exchange will be Friday, December 18, 2009. The details of the transaction are set forth below.
- The Company is the registered and beneficial holder of 6,666,666 common shares (the "Distribution Shares" of Copper Ridge Explorations Inc.
- The Company is proposing to distribute all of the Distribution Shares to the Company's shareholders on a pro-rata basis. The distribution would occur by way of a return of capital transaction (the "Return of Capital Transaction") in compliance with the corporate laws of British Columbia.
- Pursuant to the Return of Capital Transaction, the shareholders of the Company will receive the following in exchange for each existing common share of the Company held by them:
a) one share of a new class of common shares of the Company (the "New Common Shares"); and
b) Distribution Shares on a pro-rata basis, with fractional Distribution Shares rounded up or down as necessary to distribute all of the Distribution Shares to the Company's shareholders.
- The New Common shares will be listed on CNSX in substitution of the old common shares of the Company, and the old common shares of the Company will be cancelled. The exchange will occur by way of a letter of transmittal to be sent to the shareholders of the Company of record as at the effective date of the exchange.
Platoro West will begin trading ex-distribution on Wednesday December 16, 2009. The old common shares will be delisted at the close on Tuesday, December 15, 2009 and the New Common Shares will begin trading on Wednesday, December 16, 2009.
The New Common Shares will trade under the same symbol, with a new CUSIP.
Company: Platoro West Holdings Inc.
CUSIP: 727651 20 0
ISIN: CA727651 20 0 0
Ex-distribution Date: Wednesday, December 16, 2009
Record Date: Friday, December 18, 2009
If you have any questions or require further information please contact Radhika Ramkarran at (416) 572-2000 X 2435 or E-mail: firstname.lastname@example.org