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Canadian Orebodies to undertake 1-for-4 share consolidation

Canadian Orebodies Inc. is undertaking a consolidation of its shares on the basis of 1 post-consolidation common share for every 4 pre-consolidation common shares held.

Following consolidation, the company will have about 45,558,156 common shares outstanding, it said on Dec. 21.

In mid-October, Canadian Orebodies entered an agreement to acquire the Wire Lake gold property, which comprises 251 mineral claims covering about 4,047 hectares in Ontario.