|April 14, 2011|
Crowflight Proposes Name Change and Share Consolidation
|Vancouver, British Columbia - April 14, 2011 - CROWFLIGHT MINERALS INC. ("Crowflight" or the "Company") (TSX: CML) announces that it is proposing to change its name from "Crowflight Minerals Inc." to "Canada Nickel Mining Corp." and a consolidation (the "Share Consolidation") of its issued and outstanding common shares (the "Common Shares") on the basis of either one post-consolidation shares for thirty pre-consolidation shares or one post-consolidation shares for forty pre-consolidation shares. The Name Change and Share Consolidation are subject to Toronto Stock Exchange approval and shareholder approval and therefore are being proposed to shareholders of the Company at the Company's upcoming annual general and special meeting on May 16, 2011 (the "Meeting"). |
The Company believes that the Share Consolidation will enhance share trading value and facilitate new equity investment in the Company as the Company currently has a total of 1,500,807,965 common shares issued and outstanding. The Company also believe that the Name Change better reflects the business the Company is currently undertaking.
If approved and implemented, the Consolidation will occur simultaneously for all of the Company's Common Shares and the Consolidation ratio will be the same for all of such shares. The Consolidation will affect all shareholders uniformly and will not affect any shareholder's percentage ownership interest in the Corporation, except to the extent that the Consolidation would otherwise result in any shareholder owning a fractional share. In the event that a shareholder would otherwise be entitled to receive a fractional share after the Consolidation, no such fractional share will be issued but the number of Common Shares to be received by such shareholder will be rounded down to the net highest whole number of Common Shares.
Further details of the proposed Share Consolidation, Name Change, and Continuance are contained in the Company's information circular dated April 11, 2011 and a copy of which is available electronically at www.sedar.com.
About Crowflight Minerals Inc.
Crowflight Minerals Inc. (TSX: CML) is a Canadian junior mining company that owns and operates the Bucko Lake Nickel Mine near Wabowden, Manitoba. The Company also holds nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.
Further information is available on the Company's website at www.crowflight.com or contact:
CFO and Corporate Secretary
Crowflight Minerals Inc.
P.O. Box 35 1655-999 West Hastings Street
Vancouver, British Columbia Canada V6C 2W2
Tel: 778-372-1806 Fax: 604-254-8863
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