Vancouver, British Columbia--(Newsfile Corp. - August 11, 2015) - Columbus Energy Limited (TSXV: CEL) ("Company") is pleased to announce that further to its news release of July 2, 2015 effective August 11, 2015 at market open, the Company consolidated its common shares on the basis of one (1) new post-consolidated common share for every thirty (30) pre-consolidated common shares. The Company's common shares began trading on a post-consolidated basis on the TSX Venture Exchange on August 11, 2015.
As a result of the consolidation, the Company's outstanding 65,112,541 common shares were reduced to 2,170,418 common shares. No fractional shares will be issued. Any fractions of a share will be rounded down to the nearest whole number. The Company's name and trading symbol will remain unchanged. The consolidation was approved by the shareholders at the AGM held July 29, 2015. The Directors approved the consolidation on July 31, 2015 and TSX Venture Exchange approval was received on August 7, 2015.
Registered shareholders will be required to exchange their share certificates representing pre-consolidation common shares for new share certificates representing post-consolidation common shares. Registered shareholders will be sent a transmittal letter from the Company's transfer Agent Computershare Investor Services Inc. as soon as practical after the effective date of the consolidation. The letter of transmittal will contain instructions on how certificate(s) representing pre-consolidation shares may be surrendered to Computershare Investor Services Inc. The transfer agent will forward to each registered shareholder who has provided the required documents a new share certificate representing the number of post-consolidated common shares to which the shareholder is entitled. Until surrendered, each certificate representing pre-consolidated common shares of the Company will be deemed for all purposes to represent the number of whole post-consolidation common shares to which the holder is entitled as a result of the consolidation.
On behalf of the Board of Directors
Signed "Glen Macdonald"
Glen Macdonald. President and CEO
Neither TSX Venture Exchange not its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Columbus Energy Limited
Douglas Scheving
Corporate Secretary
Phone 604 684 7619
This news release includes certain "forward-looking statements" within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involves various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time-to-time with the British Columbia and Alberta Securities Commissions.
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