Sunset Cove Mining Announces Share Consolidation - Action News 5 - Memphis, Tennessee

Sunset Cove Mining Announces Share Consolidation

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Toronto, Ontario / ACCESSWIRE / August 29, 2014 /  Sunset Cove Mining
(TSXV: SSM) (BVL:SSM)
(“Sunset” or the “Company”) announces that it will be
implementing a ten (10) for one (1) consolidation (the “Consolidation”) of the
Company’s common shares (“Common Shares”). The shareholders voted in favour of
the Consolidation at the Company’s annual general meeting of shareholders held
on June 12th, 2014. The TSX Venture Exchange has approved the Consolidation.

The Company will give effect to the Consolidation on Tuesday
September 2nd, 2014. The Company’s post-Consolidation Common Shares will be
posted for trading on the TSX Venture Exchange at the opening of trading on
Tuesday September 2nd, 2014, under the current symbol “SSM” but with the new
CUSIP number 86770329 and ISIN number CA8677032093.

The 104,399,613 Common Shares issued and outstanding prior to
the Consolidation will be consolidated to approximately 10,439,961 Common
Shares. Sunset will not issue any fractional Common Shares as a result of the
Consolidation. Instead, the number of post-Consolidation Common Shares issued to
such shareholder shall be rounded up to the next greater whole number if the
fractional entitlement is equal to or greater than 0.5 and shall be rounded down
to the next lesser whole number if the fractional entitlement is less than
0.5.

The Company’s share purchase warrants will be adjusted on the
same basis with proportionate adjustments being made to the exercise prices. In
addition management has decided to cancel all stocks options as of today. In
addition the Board of Director’s have cancelled all of the Stock Options that
have been issued.

Management of the Company believes that a Consolidation of its
shares will allow itself to raise funds on more favorable terms and as well
increase the Company’s flexibility and competitiveness.

Letters of transmittal with respect to the Consolidation will
be mailed out to all registered shareholders by the Company’s registrar and
transfer agent, Computershare Investor Services Inc. (“Computershare”). The
letter of transmittal will describe the process by which shareholders may obtain
new certificates representing their post-Consolidation Common Shares. All
registered shareholders of the Company will be required to send their
certificates representing pre-Consolidation Common Shares with a properly
executed letter of transmittal to Computershare in accordance with the
instructions provided in the letter of transmittal. Shareholders who hold their
shares through a broker or other intermediary and do not have shares registered
in their name will not need to complete a letter of transmittal.

About Sunset Cove – Sunset Cove Mining Inc. is a dynamic
Canadian junior mineral exploration and development company dedicated to driving
shareholder value through the economical acquisition, exploration and
development of strategic metals properties in Canada and Latin American
locations to the point where they become attractive joint venture or acquisition
targets. Sunset currently has two properties in its portfolio, a graphite
property in Quebec and the Carolay Silver property in Peru.

Forward-Looking Statements

Some of the statements contained herein may be forward-looking
statements that involve known and unknown risks and uncertainties. Results
presented in this press release are exploratory in nature. Historical data, if
mentioned, should not be relied upon, as they are not admissible under NI 43-101
rules and the Company has not conducted sufficient testing to verify this type
of information. Without limitation, statements regarding potential
mineralization and resources, exploration results, and future plans and
objectives of the Company are forward-looking statements that involve various
degrees of risk. The following are important factors that could cause the
Company’s actual results to differ materially from those expressed or implied by
such forward-looking statements: changes in the world-wide price of mineral
commodities, general market conditions, risks inherent in mineral exploration,
risks associated with development, construction and mining operations, the
uncertainty of future profitability, and the uncertainty of access to additional
capital. Sunset Cove disclaims any obligation to update any such forward-looking
statements.

“Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.”

For further information, please contact:

Lorne Woods, President, Sunset Cove Mining
(877) 234-0692; ext.
250
lwoods@sunsetcovemining.com
www.sunsetcovemining.com 

SOURCE: Sunset Cove Mining   

ReleaseID: 419721

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