VANCOUVER, April 1, 2014 /CNW/ - Network Exploration Ltd.
(the "Company" or "Network") (TSX.V: NET) ) is
pleased to announce that effective April 2,
2014, the Company will consolidate its Class A common shares
(the "Shares") on the basis of one (1) post‐consolidated common
share for every ten (10) pre‐consolidated Shares held (the
"Consolidation"). The new CUSIP number will be 64124B300 and
the new ISIN number will be CA64124B3002. The Company's name
and stock symbol will remain unchanged following the
Consolidation.
The Consolidation was approved by shareholders of the Company at
the Company's Annual and Special Meeting held on August 20, 2013 (the "Meeting"). As at the
date of the Meeting, the Company had 52,623,980 Shares issued and
outstanding and the Company will have approximately 5,262,398
Shares issued and outstanding following the Consolidation. No
fractional shares will be issued under the Consolidation and any
fraction will be rounded to the nearest whole number. The
Consolidation has been approved by the TSX Venture Exchange.
Letters of transmittal with respect to the Consolidation will be
mailed shortly to all registered shareholders of the Company as at
April 2, 2014. All shareholders
who submit a duly completed letter of transmittal along with their
respective share certificate(s) representing the pre-consolidated
Shares to the Company's transfer agent, Computershare Investor
Services Inc., will receive a share certificate representing the
post –consolidated Shares.
Further details of the Consolidation are contained in the
Company's information circular dated July
15, 2013, a copy of which was filed on SEDAR (www.sedar.com)
on July 24, 2013.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
"Alexander Helmel"
President
This news release may contain forward-looking statements based
on assumptions and judgments of management regarding future events
or results. Such statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements.
The Company disclaims any intention or obligation to revise or
update such statements.
SOURCE Network Exploration Ltd.