Geologix Announces Effective Date of Share Consolidation and Name Change to ValOro Resources Inc.
June 25 2018 - 4:30PM
Geologix Explorations Inc. (TSX-V:GIX) (“
Geologix”
or the “
Company”) announces that, effective at the
market opening on Thursday, June 28, 2018, Geologix will change its
name to ValOro Resources Inc. (“
ValOro”) and its
common shares will commence trading on the TSX Venture Exchange
using the new symbol VRO on a consolidated basis of one (1) new
share for ten (10) existing shares. The share consolidation was
approved at the Company's Special Meeting of Shareholders held on
June 21, 2018 with 85.3% of the votes cast in favour. In connection
with these changes, Letters of Transmittal will be mailed to
shareholders providing instructions on the exchange of Geologix
share certificates for post-consolidated ValOro share certificates.
Following the consolidation, the Company will
have approximately 21,720,447 common shares issued and outstanding.
No fractional shares will be issued. Instead, all resulting
fractional shares of less than one-half will be rounded down to the
nearest whole number, and of one-half or greater will be rounded up
to the nearest whole number. The Company's outstanding incentive
stock options and warrants will be adjusted on the same (10:1)
basis entitling holders to purchase 1,946,000 and 1,912,263
post-consolidation shares, respectively, with proportionate
increases being made to their exercise prices.
The Company’s new CUSIP number will be 92026G101
and ISIN will be CA92026G1019.
About Geologix Explorations
Inc.
Geologix is a mineral exploration and
development company focused on acquiring, exploring, and developing
mineral resource opportunities with the potential to host
profitable mining operations. The Company's primary focus is the
Tepal Gold/Copper Project in Michoacán state, Mexico.
For Further Information Please
Contact:Kiran PatankarPresident and Chief Executive
OfficerTel: 604-694-1742Email: kpatankar@geologix.caWebsite:
www.geologix.ca
This Press Release may contain statements which
constitute 'forward-looking, including statements regarding the
plans, intentions, beliefs and current expectations of the Company,
its directors, or its officers with respect to the future business
activities and operating performance of the Company. The words
"may", "would", "could", "will", "intend", "plan", "anticipate",
"believe", "estimate", "expect" and similar expressions, as they
relate to the Company, or its management, are intended to identify
such forward-looking statements. Investors are cautioned that any
such forward-looking statements are not guarantees of future
business activities or performance and involve risks and
uncertainties, and that the Company's future business activities
may differ materially from those in the forward-looking statements
as a result of various factors. Such risks, uncertainties and
factors are described in the periodic filings with the Canadian
securities regulatory authorities, including the Company's
quarterly and annual Management's Discussion & Analysis, which
may be viewed on SEDAR at www.sedar.com. Should one or more of
these risks or uncertainties materialize, or should assumptions
underlying the forward-looking statements prove incorrect, actual
results may vary materially from those described herein as
intended, planned, anticipated, believed, estimated or expected.
Although the Company has attempted to identify important risks,
uncertainties and factors which could cause actual results to
differ materially, there may be others that cause results not be as
anticipated, estimated or intended. The Company does not intend,
and does not assume any obligation, to update these forward-looking
statements.
CONTACT:
Investor
Relationskpatankar@geologix.ca
T: 604.694.1742Toll Free:
1.888.694.1742www.geologix.ca
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