Nevada Geothermal Power renamed to Alternative Earth Resources Inc.
Nevada Geothermal Power is proceeding with the share consolidation and the renaming of the company to "Alternative Earth Resources Inc.", effective April 2, 2013. The company will be listed on the TSX-Venture Exchange under "AER".
In a release today, Canadian “Nevada Geothermal Power Inc. (TSX.V: NGP) reports that it is proceeding with the share consolidation, on the basis of five (5) old shares for one (1) new share (the “Consolidation”), as was approved by shareholders at the Annual and Special meeting held on July 24, 2012. As a result of the Consolidation, the 122,410,573 common shares which are currently issued and outstanding will be reduced to 24,482,115 shares. The name of the Company will also be changed to “Alternative Earth Resources Inc.” concurrently with the Consolidation.
The effective date for the Consolidation and change of name will be Tuesday, April 2, 2013. The post-Consolidation common shares of Alternative Earth Resources Inc. will commence trading on the TSX Venture Exchange at the opening of the market on the Effective Date under the symbol “AER”.
Letters of transmittal describing the process by which shareholders may obtain new share certificates representing their consolidated common shares registered in the new name will be mailed to the registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their own name will not be required to complete a letter of transmittal. No fractional shares will be issued under the share consolidation and any fraction will be rounded down to the nearest whole number.
To support the new name launch, the company will unveil a redesigned website at www.alternative-earth.com.
Source: Company release