A Spinout in the S&P/TSX Venture Composite and Venture Select Indices
TORONTO, April 3, 2013 /CNW/ - S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
On Thursday, March 28, 2013, the shareholders of Canaco Resources Inc. (TSXVN:CAN) approved the spinout of certain assets of Canaco to a new company called East Africa Metals Inc. Final court approval for the transaction is expected today, April 3, 2013. Shareholders of Canaco will receive 1 share of East Africa Metals for every 3 shares held. East Africa Metals will be added to the S&P/TSX Venture Composite and Venture Select indices at zero price after the close of Thursday, April 4, 2013. It is anticipated that East Africa Metals will be listed on TSX Venture Exchange under the ticker symbol "EAM" but the listing date is uncertain at this time.
Separately, after the close of Monday, April 8, 2013, the shares of Canaco will be consolidated on a 1-for-3 basis. The name of the company will be changed to Orca Gold Inc. and the shares will trade on the TSX Venture Exchange under the new ticker symbol "ORG".
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SOURCE: Standard & Poor's Canadian Index Operations
Director, Canadian Index Operations
S&P Dow Jones Indices
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices