VANCOUVER, BC - Canyon Copper Corp. ("Canyon" or the "Company") (TSX-V: CNC) announces that it intends to consolidate its issued and outstanding common shares at a ratio of three (3) pre-consolidated shares to one (1) post-consolidation share (the "Consolidation"). The purpose of the Consolidation is to facilitate the Company's ability to attract future financings, generate greater investor interest and improve trading liquidity.
The Company currently has 19,759,802 common shares issued. Upon completion of the Consolidation, the Company anticipates there will be 6,586,601 common shares issued and outstanding.
In accordance with the Company's Articles, the Consolidation does not require the approval of the shareholders. The Consolidation is subject to acceptance from the TSX-V.
On behalf of the Board of Directors,
CANYON COPPER CORP.
Stephen Wallace, CEO
Canyon Copper Corp.
(604) 684-9365 (FAX)
Cautionary Statement Regarding Forward Looking Information
This News Release may contain, in addition to historical information, forward-looking statements. These forward-looking statements are identified by their use of terms and phases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Canyon's expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, limited operating history, proposed exploration and/or drill programs and other factors which may cause the actual results, performance or achievements of Canyon to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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