Legacy Oil + Gas Inc.
TSX VENTURE : GLM.A

Legacy Oil + Gas Inc.

December 02, 2009 16:11 ET

Legacy Oil + Gas Inc. Consolidates Shares and Obtains TSX Listing

CALGARY, ALBERTA--(Marketwire - Dec. 2, 2009) -

NOT FOR DISTRIBUTION 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.

Legacy Oil + Gas Inc. ("Legacy") (TSX VENTUE:GLM.A) (after December 2, 2009 - TSX:LEG) announces that it filed articles of amendment today to consolidate its class A shares on a 6 to 1 basis and to redesignate the class A shares as common shares. Legacy also announces that the consolidated common shares will commence trading on the Toronto Stock Exchange at the opening of trading on December 3, 2009 under the symbol LEG. The shares will be delisted from the TSX Venture Exchange at that time. The consolidation and redesignation were approved by the shareholders of Legacy at a meeting held on September 25, 2009.

Following the consolidation, Legacy has a total of 74,155,841 common shares outstanding. In addition, 4,635,249 warrants and 4,411,167 options to purchase common shares are outstanding.

No fractional post-consolidation common shares will be issued and no cash will be paid in lieu of fractional post-consolidation common shares. Any fractional common shares resulting from the consolidation will be rounded to the nearest whole common share.

Letters of transmittal for the exchange of certificates of pre-consolidation class A shares for post-consolidation common shares will be mailed to registered shareholders. Shareholders that do not have shares registered in their name, such as shareholders holding their shares through brokerage accounts, will not need to submit a letter of transmittal.

Legacy is a uniquely positioned, well-capitalized junior oil and natural gas company with a proven management team committed to aggressive, cost-effective growth of light oil reserves and production in Saskatchewan and Manitoba. After December 2, 2009, Legacy's common shares trade on the TSX Exchange under the symbol LEG.

This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

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.

Contact Information

  • Legacy Oil + Gas Inc.
    Trent J. Yanko, P.Eng.
    President + CEO
    (403) 441-2300
    (403) 441-2017 (FAX)
    or
    Legacy Oil + Gas Inc.
    Matt Janisch, P.Eng.
    Vice-President, Finance + CFO
    (403) 441-2300
    (403) 441-2017 (FAX)
    or
    Legacy Oil + Gas Inc.
    3900, Bow Valley Square II
    205 - 5th Avenue S.W.
    Calgary, AB T2P 2V7
    www.legacyoilandgas.com