Vancouver, British Columbia--(Newsfile Corp. - July 2, 2015) - The Board of Directors of Columbus Energy Limited (TSXV: CEL) will be asking the shareholders at the July 29, 2015 Annual General Meeting to approve a resolution authorizing the directors to consolidate all of the issued and outstanding shares of the company on the basis of one (1) new post consolidated common share for up to a maximum of every thirty (30) pre-consolidated common shares.
The resolution will authorize the Directors of the company, at their discretion, to determine the consolidation ratio, when such consolidation will take place, and may further at their discretion determine not to effect a consolidation.
The company will not change its name at this time.
The company currently has 65,112,541 shares issued and outstanding. After the consolidation it will have 2,170,418 shares issued and outstanding if the 1 for 30 consolidation is implemented and a larger number if a lower consolidation ratio is implemented.
The directors recommend that the shareholders approve the resolution in order to facilitate the company's financing efforts on a going forward basis.
The consolidation is subject to approval by the shareholders of the company and the TSX Venture Exchange,
"Jack BesMargian"
Jack BesMargian
Director
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Contact Information:
Columbus Energy Limited
Jack BesMargian
Director
Phone 604 684 7619
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