CALGARY, ALBERTA--(Marketwired - Aug. 22, 2013) - Margaux Resources Ltd. (TSX VENTURE:MRL) ("Margaux" or the "Corporation") is pleased to announce the approval of the proposed consolidation of its issued and outstanding common shares ("Common Shares") on a basis of 10 pre-consolidation shares for each post-consolidation share (the "Consolidation") at the special meeting of Shareholders held today (the "Meeting"). At the Meeting, the Consolidation received the approval of greater than 99% of the Shareholder votes cast at the Meeting.
The Consolidation will result in the 52,779,057 pre-Consolidation Common Shares that are currently outstanding being reduced to approximately 5,277,906 post-Consolidation Common Shares. The TSX Venture Exchange ("TSXV") has provided approval with respect to the Consolidation and the Corporation expects that the post-Consolidation common shares will commence trading on the TSXV at the opening of trading on Monday, August 26, 2013.
Forward-Looking Statements:
This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this news release contains statements concerning the anticipated timing for the trading of the Common Shares on the TSXV on a post-Consolidated basis.
Forward-looking statements are based on a number of material factors, expectations or assumptions of Margaux which have been used to develop such statements but which may prove to be incorrect. Although Margaux believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Margaux can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.
The forward-looking statements contained in this news release are made as of the date hereof and the Corporation undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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 news release.
Contact Information:
Tyler Rice
Chief Financial Officer
(403) 537-5590