Ripper Oil and Gas Announces Effective Date of Share Consolidation
RIPPER OIL AND GAS INC.
Suite 1600, 609 Granville Street Vancouver, BC V7Y 1C3
NEWS RELEASE
RIPPER OIL AND GAS ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION
Vancouver, BC, Canada – September 30, 2016 – Ripper Oil and Gas Inc. (the "Company") (TSX-V: RYP.H) announced today that the previously announced consolidation (the “Consolidation”) of the Company’s issued and outstanding common shares (“Common Shares”) on the basis of one post-consolidation Common Share for every two preconsolidation Common Shares is effective at the close of business September 30, 2016. The Common Shares will begin trading on a consolidated basis on the TSX Venture Exchange (the “Exchange”) when markets open on October 3, 2016.
The Consolidation was approved by the Exchange and a related bulletin has been issued by the Exchange.
Prior to the Consolidation, the Company had 13,791,303 million Common Shares outstanding. As a result of the Consolidation, the Company has approximately 6,895,651 million Common Shares outstanding. The exercise or conversion price and the number of Common Shares issuable under any of the Company’s outstanding stock options has been proportionately adjusted as a result of the Consolidation.
A letter of transmittal will be mailed to registered shareholders providing instructions 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 new CUSIP is 767557 30 9. The name of the Company was not changed as a result of the Consolidation.
For more information, contact Scott Ackerman at (778) 331-8505.
On Behalf of the Board of Directors of
RIPPER OIL AND GAS INC.
Scott Ackerman President and CEO
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.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward‐looking statements". Forward‐looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.