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Board of Directors declares quarterly cash dividends on ordinary shares
Jaguar intends to consolidate its usual stock on a 1 cent basis
TORONTO / ACCESSWIRE / August 12, 2020 / Jaguar Mining Inc. (“Jaguar” or “Company”) (TSX: JAG) is pleased to announce that its Board of Directors has declared a dividend of C$ 0.08 consistent with a non-unusual percentage consistent with the Company (an “Action”) on a post-consolidation basis (as explained below), payable to holders of consistent percentages recorded at the end of the date falling five business days after the effective date (as explained below). Jaguar will make some other announcement to check the registration date and dividend payment date after the final touch of the consolidation.
The Board of Directors intends to review, inter alia, the Company’s budget, money forecasts and existing market situations on a quarterly basis to determine whether more dividends will be declared on the Shares for the coming quarters. The declaration, timing, amount and payment of long-term dividends are at the discretion of the Board of Directors. The dividend is designated as a dividend decided for the purposes of Canadian income tax.
Jeff Kennedy, president and chief executive of the company, said: “The declaration of a dividend and the simultaneous announcement of a mix of percentages is a vital step for Jaguar, as it will create greater exposure for the company and attract a larger and more diverse group. .new institutional and retail investors in the United States, Canada and abroad. The payment of this quarterly dividend also reflects our strong confidence in the Company’s expected long-term operational and monetary functionality and mining properties, adding the wishes of our exploration team for long-term growth.”
The total dollar amount of the weighted dividend here will be paid through the company, whether consolidation is completed.
Inventory consolidation announcement
The Company also announces that, as in the legal past through its percentage shareholders at the Company’s ordinary and annual general meeting of shareholders held on June 5, 2017 and after a resolution through its Board of Directors, the Company intends to record amendments to bring into force a consolidation of its remarkable percentages (the “consolidation”) on the basis of one (1) percentage of post-consolidation for every ten (10) percentages pre-consolidated. On July 17, 2020, the Toronto Stock Exchange (the “TSX”) granted TSX corporate conditional approval for consolidation. The Company expects lately that, in order to obtain all required and final approvals, the percentages will begin trading on the TSX after consolidation under its new custody number 47009M889 (ISINCA47009M8896) from the opening of markets around August 27, 2020 (the “effective date”).
Following consolidation, the number of issued and notable percentages is expected to increase from 723,502,108 to approximately 72,350,197 on an undiluted basis, and the percentage shareholder will maintain the same percentage of notable percentages without delay after consolidation as a percentage shareholder. held without delay before consolidation. The exact number of notable percentages after consolidation will vary depending on the elimination of percentage fractions. No percentage fraction will be emitted as a component of the consolidation. Conversely, all fractions of Post-Consolidation Actions will be rounded to the nearest total decrease number.
Consolidation to percentage holders is expected consistently, adding holders of notable values that are convertible or exerciseable in percentages at the effective date, with the exception of minor changes or changes resulting from the correction of percentage fractions. As of the effective date, the renegotiation costs and the amount of percentages that would possibly be issued during the estimated year or year of any warranty, option, deferred percentage unit or other convertible or exchangeable security of the Company will be automatically adjusted proportionally to reflect the consolidation rate to reflect the consolidation.
The Company believes that consolidation would possibly have the effect, inter alia: of strengthening the interest of the monetary network in the Company and potentially expanding its group of eligible investors and exchanges; Improve advertising liquidity and reduce trading commissions and other transaction prices for shareholders.
A letter related to consolidation will be mailed to the Company’s registered percentage shareholders. All registered percentage holders must send their certificate(s) that constitute pre-consolidation actions, as well as a duly signed letter of mail, to the Company’s Registration and Transfer Agent, TSX Trust Company, in accordance with the commands provided in the letter. transmission. Shareholders who maintain their percentages through a broker, broker, bank or accept as true with the company deserve to contact the broker or intermediary to locate their post-consolidation positions. Until its issuance, each certificate of a percentage constituting Pre-Consolidation Shares shall constitute the number of Total Post-Consolidation Shares to which the bearer is entitled as a result of the Consolidation. A copy of the shipping letter is displayed in the company issuer profile in SEDAR in www.sedar.com.
The Company’s inventory and call symbol will remain unchanged in the TSX as a result of consolidation, which remains subject to final APPROVAL through the TSX.
About Jaguar Mining Inc.
Jaguar Mining Inc. is a Canadian-traded gold mining, progression and exploration junior company operating in Brazil with 3 gold mining complexes and giant terrain with significant prospects for significant exploration of approximately 64,000 hectares of mineral concessions. The company’s main operating assets are located in the Iron Quadrangle, a prolific green rock belt in Minas Gerais state and come with the Turmalina gold mining complex and the Caeté mining complex (Pilar and Roca Grande mines and Caeté plant). The Company also owns the Gold Mine Complex, which has been the subject of care and majortenance since 2012. The Roca Grande mine has been majordinate and temporarily majordinated since April 2019. Additional information can be found on the company’s online website at www. jaguarmining.com.
For information, contact:
Vernon Baker JEFE Jaguar Mining [email protected] 416-847-1854
Hashim Ahmed Chief Financial Officer Jaguar Mining Inc. [email protected] 416-847-1854
Forward-looking statements
The forward-looking data in these statements reflect the Company’s moderate expectations as of the date of this press release and would possibly replace it after that date. The Company disclaims any objective or legal responsibility to update or revise any prospective data, whether as a result of new data, long-term or otherwise, unless required to do so by law. The prospective data contained in this press release are expressly qualified through this warning.
This press release does not constitute an offer to sell or request an offer to purchase and there will be no sale of the securities in a state where such offer, solicitating or sale would be unlawful. The securities to be offered have not been registered, nor will they be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States in the absence of registration or an applicable waiver. U.S. registration requirements. State Securities Act of 1933, as amended, and applicable state securities laws.
SOURCE: Jaguar Mining Inc.
See the accesswire.com edition: https://www.accesswire.com/601227/Jaguar-Mining-Announces-Quarterly-Dividend-and-Decision-to-Proceed-with-a-Share-Consolidation