Plate Resources Inc. Completes Share Consolidation; Name Change to ArcPacific Resources Corp.
December 21, 2016 - Vancouver, British Columbia- Plate Resources Inc. (TSX-V: PLR) (the "Company") announces that announces that further to its news release dated November 25, 2016, the TSX Venture Exchange has approved the change of name to ArcPacific Resources Corp. and the consolidation of the common shares of the Company on the basis of two (2) pre-consolidation shares for one (1) post-consolidation share. The name change and consolidation will become effective at the opening of the market on December 22, 2016 under the new symbol “ACP”.
Currently, a total of 14,110,862 shares are issued and outstanding. Accordingly, upon the consolidation becoming effective, a total of 7,055,431 shares, subject to adjustments for rounding, will be issued and outstanding. There is no maximum number of authorized shares.
Computershare Investor Services Inc. will mail letters of transmittal to the shareholders providing instructions on exchanging pre-consolidation share certificates for post-consolidation share certificates. Shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Computershare in accordance with the instructions in the letter of transmittal.
About Plate Resources Inc.
Plate Resources Inc. (TSX-V: PLR) is a Canadian based company with a project generator business model. Although the Company’s primary business focus since formation has been the exploration of mineral properties, it is now seeking new business opportunities that offer the potential for near term cash flow to create shareholder value. For further information, please visit www.arcpacific.ca
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Ruben Verzosa”
CEO and Director
The forward-looking statements contained in this press release are made as of the date hereof and Plate Resources undertakes no obligations to update publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the 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 press release.