May 7, 2018 – Ridgestone Mining Inc. (TSX Venture-RMI) (the “Company” or “Ridgestone“), is pleased to announce that it will proceed with its proposed forward stock split on a two-for-one basis (the “Forward Split“). The record date of the Forward Split will be May 14, 2018.
Management of the Company believes that the Forward Split will provide increased liquidity to shareholders and flexibility to seek additional financing opportunities and/or to pursue strategic transactions.
The Forward Split will result in the Company’s current issued and outstanding share capital of 8,646,000 shares, as of the date of this news release, being increased to 17,292,000 issued and outstanding shares. The Forward Split is being conducted on a push-out basis. The Company’s CUSIP number and trading symbol will remain the same.
Shareholders of the Company do not need to take any action with respect to the Forward Split. The Company’s transfer agent will send registered shareholders a share certificate representing the additional number of shares to be received as a result of the Forward Split.
For further information, please contact:
Chief Financial Officer and Corporate Secretary
Ridgestone Mining Inc.
About the Company
Ridgestone Mining Inc. is engaged in the business of mineral exploration and holds an option to acquire a 100% interest in the Cimarron Gold Property located in Nye County, Nevada, USA.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements or information (collectively referred to herein as “forward-looking statements”). Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including those described in the Company’s Prospectus dated February 9, 2018 available on www.sedar.com. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company’s course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.