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Afri-Can Marine to Consolidate Shares, Close Financing

Jul 3, 2012 11:50 AM   By Jeff Miller
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RAPAPORT... Afri-Can Marine Minerals received conditional approval from the Toronto Stock Exchange (TSX)  Venture board to close its $3 million placement,  which commenced April 12.

In order to proceed with the closing, Afri-Can has initiated procedures to start trading its common shares on a consolidated basis of four pre-consolidation common shares for each single post-consolidation common share. Once post-consolidation trading commences, Afri-Can will immediately move to close the financing.

The share consolidation will reduce the company's 238,524,984 issued and outstanding common shares to approximately 59,631,246.

Tags: Afri-Can, diamonds, Jeff Miller, minerals, shares
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