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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.
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