Consolidated Beacon Resources Ltd. Approves Share Consolidation and Name Change to Zone Resources Inc.
July 23 2009 - 5:41PM
Marketwired
Consolidated Beacon Resources Ltd. (TSX-V: KBC) (the "Company")
announces that at its annual general meeting held on June 26th,
2009 (the "Meeting"), shareholders approved, by special resolution,
a consolidation of the Company's common shares on the basis of one
(1) post-consolidated share for every thirty (30) pre-consolidated
shares (the "Consolidation"). As of the Meeting, the Company had
75,831,649 issued and outstanding common shares. Following the
Consolidation, the Company will have approximately 2,527,721 shares
outstanding. No fractional shares will be issued, but will instead
be rounded as provided for in the Business Corporations Act
(British Columbia). The TSX Venture Exchange has approved the
Consolidation and commencing July 24th, 2009, the Company's common
shares will trade on a post-consolidation basis.
Shareholders also approved at a previous meeting held December
11, 2008, by special resolution, to change the Company name and to
continue the Company from Alberta to British Columbia. The Board of
Directors have reserved Zone Resources Inc.; the Company will begin
trading under the new symbol ZNR on July 24th, 2009. Shareholders
will receive a letter of transmittal from CIBC Mellon Trust
Company, the Company's transfer agent, with instructions for
exchanging their pre-consolidation shares.
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.
Cautionary note:
This report contains forward-looking statements. Resource
estimates, unless specifically noted, are considered speculative.
Any and all other resource or reserve estimates are historical in
nature, and should not be relied upon. By their nature,
forward-looking statements involve risk and uncertainties because
they relate to events and depend on factors that will or may occur
in the future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and pricing,
currency exchange rates, and, but not limited to, general economic
factors. Cautionary Note to US investors: The U.S. Securities and
Exchange Commission specifically prohibits the use of certain
terms, such as "reserves" unless such figures are based upon actual
production or formation tests and can be shown to be economically
and legally producible under existing economic and operating
conditions.
For further information about the company, please contact: Zone
Resources Inc. Vancouver Office Archie Boyce Director Email:
archie@zone-resources.com Telephone: (604) 683 5445 ext 227
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