Zodiac Exploration Inc. Announces Name Change and Share Consolidation
PR-Inside.com: 2014-05-01 02:45:54
Calgary, Alberta (FSCwire) - Zodiac Exploration Inc. (the “Company (TSX VENTURE: ZEX) announces that the Company will change its name from “Zodiac Exploration Inc to “Mobius Resources Inc (the “Name Change. As a result, the Company’s TSX Venture Exchange TSXV trading symbol will be changed from “ZEX” to “MBS In addition, the board of directors of the Company have resolved to consolidate (the “Consolidation the issued and outstanding common shares of the Company (the “Common Shares on the basis of one (1) post-Consolidation Common Share for every fifteen (15) pre-Consolidation Common Shares. There are currently 432,057,559 Common Shares issued and outstanding and following the Consolidation, there will be 28,803,808 Common Shares issued and outstanding (as a result of fractional ownership post-Consolidation).
The Common Shares will commence trading on the TSXV on a post-Consolidation and post-Name Change basis on May 1, 2014. Shareholder approval for the Name Change and Consolidation was obtained at the Company’s annual and special meeting of shareholders held on April 23, 2014 (the “Meeting. At the Meeting, shareholders of the Company also, among other things, elected all nominee directors, approved the Company’s stock option plan and ratified the Company’s advance notice by-law. A letter of transmittal will be sent to all registered shareholders of the Company and will contain instructions on how shareholders may exchange their current share certificates for certificates reflecting the Name Change and Consolidation.
About the Corporation
The Company is an oil and gas exploration company with headquarters in Calgary, Alberta and offices in Bakersfield, California. The Company’s core assets are located in California's San Joaquin Basin, where the Company holds approximately 55,000 acres in Alberta which are prospective in the Duvernay and Nordegg formations, a farm in on approximately 12,000 net acres in Montana and 72,000 net acres of land in the prolific Monterey/Kreyenhagen Oil Shale formations.
For more information, please contact:
Mobius Resources Inc.
Lee A. Pettigrew, President & CEO, (403) 444‐7844, email@example.com
John Newman, Chief Financial Officer, (403) 444‐7850, firstname.lastname@example.org
Forward Looking Information
This news release contains certain forward‐looking statements relating, but not limited, the timing of the implementation of the Name Change and Consolidation. Forward‐looking information typically contains statements with words such as “anticipate “believe “expect “plan “intend “estimate “propose “project or similar words suggesting future outcomes. The Company cautions readers and prospective investors in the Company’s securities not to place undue reliance on forward‐looking information as, by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company. Forward-looking information is based on management’s current expectations and assumptions regarding the ability to receive necessary regulatory approval. Although the Company believes the expectations and assumptions reflected in such forward‐looking information are reasonable, they may prove to be incorrect.
Forward‐looking information involves significant known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those anticipated by the Company, including but not limited to regulatory approvals required to implement the Name Change and Consolidation . The forward‐looking information included herein is expressly qualified in its entirety by this cautionary statement. The forward‐looking information included herein is made as of the date hereof and the Company assumes no obligation to update or revise any forward‐looking information to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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Source: Zodiac Exploration Inc. (TSX Venture:ZEX) www.zodiacexploration.ca/
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