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TORONTO, ONTARIO--(Marketwired - Mar 24, 2016) - Telferscot Resources Inc. (CSE:TFS) ("Telferscot" or the "Company") is pleased to announce a distribution to shareholders of record on March 10, 2016 ("Shareholders") of $0.0145 per share ("Distribution") as and by way of a reduction in the stated capital of the Company. Shareholders have the option, at their election, to receive the Distribution in the form of common shares issued from treasury, cash or a combination thereof. If a shareholder does not make an election they will receive their entire Distribution in common shares. The shares will be valued at $0.005 per share. Therefore, if a Shareholder elects to receive all shares in lieu of cash, they will be entitled to receive 2.9 additional Common Shares for each Common Share currently held.
All registered shareholders were mailed an election form on March 15th, 2016. All beneficial shareholders are encouraged to contact their broker as soon as possible if they wish to elect to receive any portion of the Distribution in cash so that their broker will have adequate time to make the election in advance of the deadline.
If the Shareholder wishes to receive new shares, there is no need to complete and return an election form.
Shareholders have until close of business on April 8th, 2016 to return their election form to the Company.
About Telferscot Resources Inc.
Telferscot Resources Inc. is a Canadian company listed on the CSE under ticker symbol TFS. For further information and access to the Company's public disclosure record please consult SEDAR at www.sedar.com or the Canadian Securities Exchange at www.cnsx.ca.
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Telferscot Resources Inc.
Telferscot Resources Inc.
Manager Corporate Affairs