CANEX Announces Proposed Share Consolidation
CANEX ENERGY CORP. #1305 - 1090 West Georgia Street Vancouver, BC V6E 3V7 Tel: 604-685-9316 Fax: 604-683-1585 www.canexenergy.com
TSX VENTURE SYMBOL: CSC AUGUST 22nd, 2016
CANEX ANNOUNCES PROPOSED SHARE CONSOLIDATION
CANEX ENERGY CORP. ("Canex" or the “Company") (TSX Venture: CSC) announces that the Board of Directors has approved an alteration to the Company's share structure by consolidating all of the Company’s issued and outstanding common shares on the basis of ten (10) old common shares for one (1) new common share. The share consolidation will reduce the 32,718,252 shares of the Company currently issued and outstanding to approximately 3,271,825 shares. No fractional shares will be issued. Any fraction of a share will be rounded down to the nearest whole number of common shares.
The above share consolidation is subject to TSX Venture Exchange approval and will be effected upon receipt of such approval.
Management believes that the share consolidation is necessary to provide the Company with a share structure that will better attract capital financing and that will provide for future growth opportunities.
ON BEHALF OF THE BOARD
“Nick DeMare”
Nick DeMare, Director Tel: 604-685-9316
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.