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FINWIRES

Copper Lake Resources to Launch 20-For-1 Reverse Stock Split

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-- Copper Lake Resources (CPL.V) intends to consolidate its common shares on the basis of 20 pre-consolidation common shares for every one post-consolidation common share effective as of May 8, it said Wednesday.

The company currently has 271-million common shares issued and outstanding, and following the consolidation, the company will have about 13.6-million common shares issued and outstanding, prior to rounding for fractional shares.

Its outstanding options of 19.5-million and warrants of 15.9-million will also be adjusted on the same basis as the common shares with proportionate adjustments being made to exercise prices.

Shares of the company were last seen unchanged at $0.02 on the TSX Venture Exchange.

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