/NOT FOR DISTRIBUTION TO U.S. NEWSPAPER SERVICES
OR DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THE RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./
CALGARY,
July, 23, 2014 /CNW/ - CMQ Resources Inc. ("CMQ") is
pleased to announce that CMQ has completed its previously announced
consolidation (the "Consolidation") of common shares in the
capital of CMQ ("Common Shares"). Articles of
Amendment to effect the Consolidation were filed earlier
today. Under the terms of the Consolidation, all Common
Shares were consolidated on a 21,000,000 to one (1) basis and any
holders of fractional pre-Consolidation Common Shares will receive
CAD$0.02 in cash for each
pre-Consolidation Common Share previously held. As a result
of the Consolidation, Matco Investments Ltd. ("Matco"),
previously the holder of 49.79% of the issued and outstanding
Common Shares, was the only CMQ shareholder to be issued a
post-Consolidation Common Share and as a result has become the sole
shareholder of CMQ.
The Consolidation is more fully described in the
management information circular of CMQ dated June 23, 2014 and the accompanying materials
(collectively, the "Meeting Materials") which may be viewed
under CMQ's profile on SEDAR at www.sedar.com.
With the completion of the Consolidation, CMQ has
applied to have the Common Shares delisted from the TSX Venture
Exchange.
Registered Shareholders are encouraged to
complete, execute and submit the Letter of Transmittal in their
Meeting Materials as soon as possible in order to receive the
consideration to which they are entitled to under the
Consolidation. Any questions and requests for assistance in
respect of the Letter of Transmittal may be directed to
Computershare Investor Services Inc. at its telephone numbers and
locations set out in the Letter of Transmittal.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking
statements within the meaning of Canadian securities laws.
These forward-looking statements contain statements of intent,
belief, or current expectations of CMQ. Forward-looking
information is often, but not always identified by the use of such
words as "anticipate", "believe", "expect", "plan", "intend",
"forecast", "target", "project", "may", "will", "should", "could",
"estimate", "predict" or similar words suggesting future outcomes
or language suggesting an outlook.
The forward-looking statements included in this
press release, including statements concerning the Consolidation,
are not guarantees of future results and involve risks and
uncertainties that may cause actual results to differ materially
from the potential results discussed in the forward-looking
statements.
Risks and uncertainties that may cause such
difference include but are not limited to: the possibility that
legal proceedings may be instituted against CMQ and/or others
relating to the Consolidation and the outcome of such proceedings;
and risks related to the divergence of management's attention from
CMQ's ongoing business operations. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events.
The forward-looking statements in this press
release are made as of the date it was issued and CMQ does not
undertake any obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new
information, future events or otherwise except as required by
applicable law. By their very nature, forward-looking
statements involve inherent risks and uncertainties, both general
and specific, and risks that outcomes implied by forward-looking
statements will not be achieved. CMQ cautions readers not to
place undue reliance on these statements.
SOURCE CMQ Resources Inc.