Lux Energy Corp Announces Capital Re-Organization Date
November 16 2009 - 9:00AM
PR Newswire (US)
LUXE: OTC-BB CALGARY, Nov. 16 /PRNewswire-FirstCall/ -- Shane
Broesky, President is pleased to announce that the application for
a capital re-organization has been approved by the regulatory
agencies. Effective December 1, 2009, the capital of the Company
will effect a 3 for 1 split whereby the total outstanding shares
are increased from 25,250,000 to 75,750,000. Mr. Broesky advises
that this transaction resulted from discussions and recommendations
from various financial groups. Whereas the Company will entertain
proposals from investment institutions to fund capital for the
Company's growth and expansion strategy, the expansion of the
corporate capital base would more readily attract capital at more
favorable terms for the Company and its' current shareholders. The
President confirms that equity capital is precedent to the plans
for continued investment expansion in the West Central Alberta
projects that to-date have resulted in reserve and production
capacities far exceeding the Company's expectations. In addition,
Lux Energy has completed negotiations subject to legal review and
confirmation for an initial entry into a significant oil and gas
development and exploration project in Northeastern British
Columbia. Details for this project will be announced shortly.
Broesky stated that this opportunity is paramount for the
development of reserves, production and cash flow. We are very
fortunate to gain access to this extremely prominent petroleum
venture. A copy of the filed information can be found for viewing
by electronic means by viewing the Company's filings on
http://www.sec.gov/. Lux Energy Corporation Lux Energy is an oil
and gas production and exploration company focusing on developing
oil and gas resources in North America. Forward-Looking Statements
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements.
Actual results may differ materially from those described in
forward-looking statements and are subject to risks and
uncertainties. See Lux Energy's filings with the Securities and
Exchange Commission which identify specific factors that may cause
actual results or events to differ materially from those described
in the forward-looking statements. DATASOURCE: LUX Energy
Corporation CONTACT: please visit http://www.luxenergycorp.com/ or
contact Shane Broesky at: Corporate Office, Suite 510 - 640 8th Ave
S.W., Calgary, Alberta, T2P 1G7, Canada (403) 775-1730,
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