Canoel Announces 10:1 Share Consolidation
06 September 2013 - 11:05PM
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This press
release is not to be distributed to U.S. newswire services or for
dissemination in the United States. Any failure to comply with this
restriction may constitute a violation of U.S. securities law.
FOR
IMMEDIATE RELEASE
(TSXV:CIL)
September 5,
2013- Calgary,
Alberta - Canoel International Energy Ltd.
("Canoel" or the "Company") (TSX VENTURE:
CIL) announces that as of the TSX Venture
Exchange ("TSX-V") market open on Friday, September 6, 2013, the
Company will consolidate its outstanding common shares on a basis
of one new common share for every ten old common shares. The 10 to
1 share consolidation was approved by the shareholders of the
Company at the Company's annual general and special meeting of
shareholders held on August 27, 2013.
As a result of the
share consolidation, the number of issued and outstanding common
shares will be reduced from 81,884,290 to approximately
8,188,429.
The Company's name
and trading symbol will remain the same. The Company's new CUSIP
and ISIN numbers are 137805206 and CA 1378052064
respectively.
Letters of
transmittal describing the details of the share consolidation and
the process by which shareholders obtain actual share certificates
representing the consolidated common shares will be mailed out to
registered shareholders of the Company on or about September 6,
2013. Registered shareholders may also obtain copies of the letter
of transmittal by contacting the Company's transfer agent, Olympia
Trust Company.
Shareholders who hold
their shares through their broker or other intermediary and do not
have actual share certificates registered in their name will not be
required to complete and return a letter of transmittal. Any
pre-consolidation common shares owned by such shareholders will
automatically be adjusted as a result of the share consolidation to
reflect the applicable number of post-consolidation common shares
owned by them and no further action is required to be taken by such
shareholders. No fractional common shares will be issued as a
result of the consolidation. Any fractional common share arising
from the consolidation comprising less than one-half of one common
share will be rounded down to the nearest whole common share. Any
fractional common share arising from the consolidation comprising
greater than or equal to one half of one whole common share will be
rounded up to the nearest whole common share.
Neither 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.
For further
information, please contact:
Jose Ramon Lopez Portillo Andrea
Cattaneo
Chairman of the Board
CEO & President
Email:
info@canoelenergy.com
Telephone: (403) 938-8154
Telefax: (403)
775-4474
(TSXV:CIL)
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