Kariana Resources Inc. Announces Board Approval to Share Consolidation

 
 

KARIANA RESOURCES INC.
Suite 1980, 1075 West Georgia Street Vancouver, British Columbia, V6E 3C9 Telephone: (604) 688-9588; Fax: (778) 329-9361

PRESS RELEASE
Kariana Resources Inc. Announces Board Approval to Share Consolidation

The Company intends to effect the Consolidation immediately.

The Company will not be changing its name and trading symbol in connection with the Consolidation.

On behalf of the board of directors of Kariana Resources Inc.

“David Velisek” David Velisek CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT: David Velisek
david.velisek@barongroupintl.com
604-688-9588

The CNSX does not accept responsibility for the adequacy or accuracy of this release.

Vancouver, B.C., January 16, 2014 – KARIANA RESOURCES INC. (CSE: KAA) (the “Company”) announces that its Board of Directors have approved a consolidation of the Company’s issued and outstanding common shares on the basis of four (4) pre consolidation common shares for one (1) post-consolidated common share (the “Consolidation”). The Consolidation will provide the Company with a better capital structure in order to attract financing.

The Company currently has 12,025,000 issued and outstanding common shares and the Company will have approximately 3,006,250 common shares issued and outstanding post-consolidation. The exact number of post-consolidated common shares will vary depending on the treatment of fractional shares which will occur when each shareholder’s holdings in the Company are consolidated. Outstanding stock options and warrants would similarly be adjusted by the consolidation ratio.

A Letter of Transmittal with respect to the Consolidation will be mailed to the shareholders of the Company post consolidation describing the process by which shareholders may obtain new certificates representing their consolidated common shares.

The Company will provide further details of the regulatory approval process in due course.