Brookwater to Implement Share Consolidation
01 January 2014 - 12:00AM
Marketwired
Brookwater to Implement Share Consolidation
TORONTO, ONTARIO--(Marketwired - Dec 31, 2013) - Brookwater
Ventures Inc. (TSX-VENTURE:BW) will consolidate its common shares
on the basis of one new common share for every 19 common shares
outstanding effective as of December 31, 2013.
Brookwater currently has 99,328,518 common shares outstanding
and, following the share consolidation on a 19 for one basis, will
have approximately 5,227,816 common shares outstanding. The change
in the number of issued and outstanding common shares that will
result from the share consolidation will not materially affect any
shareholder's percentage ownership in Brookwater, although such
ownership would be represented by a smaller number of common
shares.
A letter of transmittal will be sent by mail to shareholders
advising that the share consolidation has taken effect and
instructing shareholders to surrender the certificates evidencing
their common shares for replacement certificates representing the
number of common shares to which they are entitled as a result of
the consolidation. Until surrendered, each certificate will be
deemed for all purposes to represent the number of common shares to
which the holder thereof is entitled as a result of the
consolidation.
The share consolidation was approved by the shareholders of
Brookwater at the annual general and special meeting held on
December 5, 2013. Further details regarding the share consolidation
are contained in the Company's Information Circular dated November
4, 2013, which has been filed under the Company's profile on SEDAR
at www.sedar.com.
About Brookwater:
Brookwater Ventures Inc. is a Canadian independent oil
exploration company.
Forward-looking information
This news release contains forward-looking information
relating to the Company's growth and corporate strategy, and other
statements that are not historical facts. Forward-looking
information relates to management's future outlook and anticipated
events or results, and may include statements or information
regarding the share consolidation; and the future plans or
prospects of the Company. Although management of the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward‐looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended.
Forward looking-information is subject to certain factors,
including risks and uncertainties that could cause actual results
to differ materially from what is currently expected. These factors
include risks and uncertainties associated with oil and gas
exploration, development, exploitation, delays resulting from or
inability to obtain required regulatory approvals and ability to
access sufficient capital from internal and external sources,
reliance on key personnel, regulatory risks and delays and
other risks and uncertainties discussed in the management
discussion and analysis section of the Company's interim and most
recent annual financial statement or other reports and filings with
the TSX Venture Exchange and applicable Canadian securities
regulations. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward‐looking information.
The forward-looking statements contained in this news
release are made as of the date of this news release. Except as
required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, the Company undertakes no obligation to comment on
the expectations of, or statements made by, third parties in
respect of the matters discussed above.
NEITHER THE TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX-VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Brookwater Ventures Inc.Ahmed SaidPresident &
CEO416-309-2963asaid@forbesenergygroup.com
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