Vast Exploration Inc.
TSX VENTURE : VST

Vast Exploration Inc.

August 07, 2013 07:00 ET

Vast Announces Share Consolidation

TORONTO, ONTARIO--(Marketwired - Aug. 7, 2013) - Vast Exploration Inc. (TSX VENTURE:VST) reports that effective August 9, 2013 the common shares of the company have been consolidated such that one (1) new common share will be issued for every fifty (50) common shares outstanding on the date hereof. 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 representing common shares prior to the consolidation 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 potential benefits of the share consolidation include improving trading liquidity, allowing the company to raise additional capital at a higher price per share and reducing shareholder transaction costs. Following the share consolidation the number of Vast common shares issued and outstanding will be reduced from 261,892,494 common shares to approximately 5,237,849 common shares. Vast will not be changing its name at this time.

The shareholders of the company approved the share consolidation at the annual and special meeting of the company held on July 24, 2013. Further details regarding the share consolidation are contained in the company's Information Circular dated June 20, 2013, which has been filed on SEDAR at www.sedar.com.

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the timing and implementation of the share consolidation. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of exploration activities; regulatory risks; risks inherent in foreign operations; and other risks of the oil and gas industry. Although 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. 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 Company does not undertake to update any forward-looking information, except in accordance with 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 RELEASE.

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