Hi Snug,

unfortunately, direct links to SEDAR documents don´t seem to work.

So go to sedar.com / company profiles / Spider Resources / View This Public Company´s Documents / Management Information Circular 2008 05 22 / Share Consolidation on page 11.

With regards to the share consolidation, I have seen some examples where the price dropped AFTER the reverse split, but in my opinion, that price drop is what we have experienced over the last weeks.

Fact is, the market cap is not changing just because of a split.

And is anybody here who believes that after a decent drill result Spider will be still at a mere C$ 25M market cap (that´s where we are now) ?

I certainly don´t and that is why I´m not bothered because of a soon to happen reverse split.

FANTOMAS