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88 Capital Corp. Announces Share Consolidation

FSCWIRE

88 Capital Corp. Announces Share Consolidation

Vancouver, B.C. (FSCwire) – 88 Capital Corp. (TSX.V: EEC) (the “Company”) is pleased to announced the Company will be filing for and seeking approval of a consolidation of the Company’s issued and outstanding share capital with the TSX Venture Exchange. The intended consolidation will be on a basis of one post-consolidation common share for every ten pre-consolidation common shares. This consolidation will reduce the issued and outstanding shares of the Company from 18,108,855 to approximately 1,810,885 shares assuming no other change in the issued capital.

The exercise price and number of common shares issuable pursuant to all outstanding stock options and warrants will also be adjusted in accordance with the consolidation ratio. Fractional common shares will not be issued, and no cash will be paid in lieu of fractional post- consolidation common shares. The number of post-consolidation common shares to be received by a shareholder will be rounded down to the nearest whole common share. The board of directors believes that the proposed share consolidation will better position the Company to raise the funds it requires to finance continuing business activities and to seek additional opportunities.

The Company’s articles of incorporation authorize the board of directors to approve certain changes to the Company’s capital structure, including the consolidation. As such, shareholder approval is not required. The consolidation is subject to approval by the TSX Venture Exchange. The Company does not intend to change its name or its current trading symbol in connection with the proposed share consolidation.

On behalf of the Board of Directors

88 CAPITAL CORP.

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

This News Release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/88CapitalMay272016.pdf
Source: 88 Capital Corp. (TSX Venture:EEC)

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