Toronto-based junior Beaufield Resources (TSE) has consolidated its common shares on a 10-for-1 basis and changed its name to Beaufield Consolidated Resources. The new company has been granted a listing on the Vancouver Stock Exchange and will begin trading immediately.
The new listing was sought after Beaufield was unable to raise sufficient capital to meet the new financial requirements of The Toronto Stock Exchange. The company has subsequently applied to the TSE to be delisted. Beaufield has also announced that it has converted around $34,000 in outstanding debt into equity, and that the proceeds of the August, 1992, private placement have been increased from $100,000 to $114,000.
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