Subject to regulatory approval, TGX Energy & Resources
TGX ENERGY &
RESOURCES INC.
Suite 1000, 409 Granville Street
Vancouver, BC, V6C 2T6
Capital Consolidation: Three Old for 1 New
For Immediate Release
Vancouver, BC – March 06, 2025 – Subject to regulatory approval, TGX Energy & Resources
Inc.'s board has resolved to consolidate the company's shares on a one-new-for-three-old basis
such that the current 33,577,353 will be consolidated into approximately 11,192,451 shares,
subject to rounding. The exact number of outstanding shares after the consolidation will vary
based on the elimination of fractional shares.
The consolidation is subject to approval by the TSX Venture Exchange. The primary reason for
the consolidation is that the company believes a higher share price may broaden TGX's appeal
to a larger range of investors. The company's name and trading symbols will remain unchanged.
If the consolidation is accepted by the Exchange, the company's shares will commence trading
on a post -consolidated basis on a date to be determined in consultation with the exchange,
which date will be announced in a subsequent news release. Upon completi on of the
consolidation, a letter of transmittal will be sent by mail to registered shareholders advising that
the consolidation has taken effect and instructing registered shareholders to take action to
exchange their share certificates. The letter of tra nsmittal will contain instructions on how
registered shareholders can exchange their share certificates. Beneficial shareholders who hold
their shares through a broker or other intermediary and do not have shares registered in their
own names will not be required to take any action to exchange their share certificates.
On behalf of the Board of Directors of TGX Energy & Resources Inc.
"M. Bilal Bhamji"
(signed)
M. Bilal Bhamji
CEO and Director
For further information, contact:
Email: [email protected]
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.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements
that involve substantial known and unknown risks and uncertainties. All statements other
than statements of historical fact are forward -looking statements, including, without
limitation, statements regarding future financial position, business strategy, use of
proceeds, corporate vision, proposed acquisitions, partnerships, joint -ventures and
strategic alliances and co-operations, budgets, cost and plans and objectives of or involving
the Company. Such forward-looking information reflects management's current beliefs and
is based on information currently available to management. Often, but not always, forward-
looking statements can be identified by the use of words such as "plans", "exp ects", "is
expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets",
"aims", "anticipates" or "believes" or variations (including negative variations) of such
words and phrases or may be identified by statements to the e ffect that certain actions
"may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A
number of known and unknown risks, uncertainties and other factors may cause the actual
results or performance to materially differ from any future results or performance
expressed or implied by the forward -looking information. These forward -looking
statements are subject to numerous risks and uncertainties, certain of which are beyond
the control of the Company including, but not limited to, t he impact of general economic
conditions, industry conditions and dependence upon regulatory approvals. Readers are
cautioned that the assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may p rove to be imprecise and, as such,
undue reliance should not be placed on forward -looking statements. The Company does
not assume any obligation to update or revise its forward -looking statements, whether as
a result of new information, future events, or o therwise, except as required by securities
laws.