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June 27, 2012, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (“Ashburton” or the “Company”) (ABR-TSX:V) is pleased to announce a proposed consolidation (the “Consolidation”) of its share capital on the basis of up to ten (10) existing common shares for one (1) new common share. Currently, a total of 81,651,595 common shares in the capital of the Company are issued and outstanding. Accordingly, if put into effect on the basis of ten (10) existing common shares for one (1) new common share, a total of 8,165,159 common shares in the capital of the Company would be issued and outstanding following the Consolidation, assuming no other change in the issued capital.
The Consolidation will increase the Company’s flexibility and competitiveness in the market place and make the Company’s securities more attractive to a wider audience of potential investors, thereby resulting in a more efficient market for its common shares.
The Consolidation will affect all shareholders of the Company uniformly and affect all of the Company’s stock options and warrants issued and outstanding at the effective date. At the time of the Consolidation, the number, exchange basis or exercise price of all stock options and warrants issued and outstanding will be adjusted to reflect the Consolidation. The actual adjustment will be made by the Company in consultation with its advisors.
The Board of Directors of the Company will ask the shareholders of the Company to approve the Consolidation at a Special Meeting of shareholders to be held on Monday, August 27, 2012 (the “Special Meeting”). Further details of the proposed Consolidation will be contained in the Company's information circular with respect to the Special Meeting, a copy of which will be available electronically at www.sedar.com.
The Consolidation is subject to shareholder approval and acceptance of the TSX Venture Exchange.
Ashburton Ventures Inc. is a junior exploration company whose mission is to acquire highly prospective base and precious metal properties for the benefit of its stakeholders. The Company’s website can be viewed at www.ashburtonventures.com.
ON BEHALF OF THE BOARD
Michael England, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Toll Free: 1-888-945-4770
Neither 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 release.