ROUYN-NORANDA, QC,
Dec. 19, 2016 /CNW Telbec/ - Fieldex Exploration Inc.
(FLX : TSXV and F7E : Frankfurt) announces that it
has received conditional approval from the TSX Venture Exchange to
consolidate its issued and outstanding common shares on the basis
of one share for every ten shares issued and outstanding. The
consolidation of Fieldex's common shares was approved by Fieldex's
shareholders at an annual and special meeting of shareholders held
on June 22, 2016. The Board of Directors believes that the
proposed share consolidation will better position Fieldex to raise
equity financing in light of the continuing difficult market
conditions that exist for junior resource issuers.
Fieldex will announce the effective date of the share
consolidation in a subsequent press release. Fieldex's common
shares will continue to trade under the symbol "FLX" and Fieldex's
name will not change. After the share consolidation, Fieldex will
have 10,328,680 issued and outstanding common shares, compared to
103,286,798 shares currently outstanding. No fractional shares will
be issued and all fractional shares resulting from the
consolidation will be rounded down to the nearest whole number.
Fieldex will mail a letter of transmittal to its registered
shareholders, who will be required to exchange their current share
certificates for new share certificates. Shareholders who hold
their shares through a securities broker or dealer, bank or trust
company will not be required to take any measures.
The share consolidation is subject to final approval from the
TSX Venture Exchange.
About Fieldex
Fieldex is a mineral resource company
actively exploring in Québec. As of the date hereof, Fieldex has
103,286,798 common shares issued and outstanding.
Forward-Looking Statements
This news release
contains statements that may constitute "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information may include, among others,
statements regarding the future plans, costs, objectives or
performance of Fieldex, or the assumptions underlying any of the
foregoing. In this news release, words such as "may", "would",
"could", "will", "likely", "believe", "expect", "anticipate",
"intend", "plan", "estimate" and similar words and the negative
form thereof are used to identify forward-looking statements.
Forward-looking statements should not be read as guarantees of
future performance or results, and will not necessarily be accurate
indications of whether, or the times at or by which, such future
performance will be achieved. No assurance can be given that any
events anticipated by the forward-looking information will
transpire or occur, including the development of the Golden
Moon Project, or if any of them do so, what benefits Fieldex
will derive. Forward-looking information is based on information
available at the time and/or management's good-faith belief with
respect to future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond Fieldex's control. These risks, uncertainties and
assumptions include, but are not limited to, those described under
"Financial Risk Management Objectives and Policies" and "Risks and
Uncertainties " in Fieldex's Annual Report for the fiscal year
ended December 31, 2015, a copy of which is available on
SEDAR at www.sedar.com, and could cause actual events or results to
differ materially from those projected in any forward-looking
statements. Fieldex does not intend, nor does Fieldex undertake any
obligation, to update or revise any forward-looking information
contained in this news release to reflect subsequent information,
events or circumstances or otherwise, except if required by
applicable laws.
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
SOURCE FIELDEX EXPLORATION INC.