VANCOUVER, June 9, 2016 /CNW/ - Petromanas Energy Inc.
("Petromanas" or the "Company") (TSXV: PMI), announces that it is
proceeding with the share consolidation, on the basis of seventy
(70) old shares for one (1) new share (the "Consolidation"), as was
approved by shareholders at the Annual and Special meeting held on
March 14, 2016. As a result of
the Consolidation, the 693,861,399 common shares which are
currently issued and outstanding will be reduced to approximately
9,912,305 shares. The name of the Company will also be
changed to "PMI Resources Ltd." concurrently with the
Consolidation.
The effective date for the Consolidation and change of name will
be Tuesday, June 14, 2016 (the
"Effective Date"). The post-Consolidation common shares of
the Company will commence trading on the TSX Venture Exchange at
the opening of the market on the Effective Date under the symbol
"PMI".
No fractional shares will be issued under the share
consolidation and any fraction will be rounded down to the nearest
whole number.
About Petromanas Energy Inc.
Petromanas Energy Inc. is an international oil and gas company
with exploration assets in France,
including two exploration licenses (Ger and Ledeiux) totalling
169,790 net acres located in the gas-producing Acquitaine
Basin.
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.
SOURCE Petromanas Energy Inc