VANCOUVER, April 28 /PRNewswire-FirstCall/ -- NAFTEX ENERGY CORPORATION ("Naftex" or the "Company") (NEX - "NEC.H") is pleased to announce that the shareholders of Naftex have approved, among other things, an amended resolution relating to the previously announced consolidation of its common shares. Under the approved resolution, the common shares of Naftex will be consolidated on the basis of every 3,366,222 old common shares being consolidated into one new common share and holders of resulting fractional shares will be paid for their fractional shares based on a price of $0.66 per old common share (increased from $0.60 per old common share, as originally announced).
Following the completion of the consolidation, Naftex will become a wholly-owned subsidiary of Norse Energy Corp. and shareholders (other than Norse Energy Corp.) will have no continuing interest in Naftex.
Naftex plans to make a further announcement regarding the planned completion of the consolidation and the resulting mail out of payment of funds to shareholders.
By Order of the Board
NAFTEX ENERGY CORPORATION
/s/ "Per Fossan-Waage"
Per Fossan-Waage
President and CEO
For further information please contact:
Per Fossan-Waage, Director of the Company
E-mail:
Forward Looking Statements: Certain information regarding the Company in this news release may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with delays resulting from or inability to obtain required regulatory or shareholder approvals. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. No assurance can be given that any events anticipated by the forward-looking statements will occur, or, if any of them do so, what benefits the Company will derive from them. Readers are cautioned that the foregoing list of factors is not exhaustive. These forward-looking statements are made as at the date of this news release and the Company does not undertake any obligation to publicly update or revise any of these forward-looking statements, except as may be required by applicable securities laws.
