VANCOUVER, British Columbia, June 25, 2018 (GLOBE NEWSWIRE) -- Geologix Explorations Inc. (TSX-V:GIX)
(“Geologix” or the “Company”) announces that, effective at the market opening on Thursday, June
28, 2018, Geologix will change its name to ValOro Resources Inc. (“ValOro”) and its common shares will commence
trading on the TSX Venture Exchange using the new symbol VRO on a consolidated basis of one (1) new share for ten (10) existing
shares. The share consolidation was approved at the Company's Special Meeting of Shareholders held on June 21, 2018 with 85.3% of
the votes cast in favour. In connection with these changes, Letters of Transmittal will be mailed to shareholders providing
instructions on the exchange of Geologix share certificates for post-consolidated ValOro share certificates.
Following the consolidation, the Company will have approximately 21,720,447 common shares issued and
outstanding. No fractional shares will be issued. Instead, all resulting fractional shares of less than one-half will be rounded
down to the nearest whole number, and of one-half or greater will be rounded up to the nearest whole number. The Company's
outstanding incentive stock options and warrants will be adjusted on the same (10:1) basis entitling holders to purchase 1,946,000
and 1,912,263 post-consolidation shares, respectively, with proportionate increases being made to their exercise prices.
The Company’s new CUSIP number will be 92026G101 and ISIN will be CA92026G1019.
About Geologix Explorations Inc.
Geologix is a mineral exploration and development company focused on acquiring, exploring, and developing
mineral resource opportunities with the potential to host profitable mining operations. The Company's primary focus is the Tepal
Gold/Copper Project in Michoacán state, Mexico.
For Further Information Please Contact:
Kiran Patankar
President and Chief Executive Officer
Tel: 604-694-1742
Email: kpatankar@geologix.ca
Website: www.geologix.ca
This Press Release may contain statements which constitute 'forward-looking, including statements regarding
the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future
business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan",
"anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are
intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not
guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business
activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks,
uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the
Company's quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has
attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may
be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any
obligation, to update these forward-looking statements.
CONTACT:
Investor Relations
kpatankar@geologix.ca
T: 604.694.1742
Toll Free: 1.888.694.1742
www.geologix.ca
