Klondike Silver Corp. Shareholders Approve Consolidation
Vancouver, BC - Klondike Silver Corp. (TSXV:KS) (the "Company") is
pleased to announce that shareholders of the Company and the TSX
Venture Exchange (the "Exchange") have approved the consolidation of
the Company's shares on a 1:20 basis. The Company will begin trading
on a consolidated basis on March 29, 2011.
CONSOLIDATION:
At the Company's Special Meeting held on March 14, 2011 and adjourned
to March 21, 2011, shareholders approved a consolidation of its share
capital on the basis of one (1) new common share for every existing
twenty (20) common shares (the "Consolidation"). Where the exchange
resulted in a fractional share, the number of common shares will be
rounded to the nearest whole common share. The Consolidation will
enhance the marketability of the common share as an investment and
facilitate additional financings to fund future operations.
Shareholder and Exchange approval of the Consolidation has been
received with the record date set as March 21, 2011. The Company will
then have a total of 10,168,904 common shares issued and outstanding.
About Klondike Silver:
Klondike Silver Corp. has assembled a quality portfolio of silver
properties in historic mineral districts in North America, and is
applying advanced exploration technologies to add value to these core
assets. Klondike Silver is reviving the Gowganda
and Elk Lake silver
camps in Ontario, and the world-famous Klondike district of Yukon
Territory. The Company owns a 100 TPD fully operational flotation mill
in Sandon, BC, which processes material from local
mines in the
historic Slocan Silver Camp.
Management is presently preparing reports for Directors to assist in
the development of exploration and production of budgets for 2011 and
2012. It is the present goal of management to locate sufficient ore to
allow for the maximizing of mill capacity.
Contact Information:
Corporate Inquiries:
Alan Campbell and Kevin Hull (604)-685-2222
Email: info@klondikesilver.com
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy or contents of this news release.
The statements made in this news release may contain forward-looking
statements that may involve a number of risks and uncertainties.
Actual events or results could differ materially from the Company's
expectations and projections.