Vancouver, B.C. - Orex Minerals Inc. - (REX: TSX-V)
or the "Company"
) - announces that the TSX Venture Exchange has approved the Company's share consolidation which was approved by the shareholders at the Annual and Special General Meeting held on October 8, 2010.
Effective as of the opening of trading on the TSX Venture Exchange, on October 20, 2010, the Company will commence trading its common shares on a consolidated basis of one (1) post-consolidated common share for every five (5) pre-consolidated common shares held (the "Consolidation") under new CUSIP number 68616N201 and new ISIN number 68616N2014. The Company's name and stock symbol will remain the same.
The Company's current issued and outstanding share capital is 114,055,220 common shares and the Company will have 22,811,044 common shares issued and outstanding post-consolidation.
A letter of transmittal with respect to the Consolidation was mailed to all registered shareholders of the Company on October 14, 2010. All registered shareholders will be required to send their respective certificates representing the pre-consolidated common shares along with a properly executed letter of transmittal to the Company's transfer agent, Computershare Investor Services Inc. ("Computershare"), in Toronto, Ontario, all in accordance with the instructions provided in the letter of transmittal. All registered shareholders who submit a duly completed letter of transmittal along with their respective pre-consolidated common share certificate(s) to Computershare, will receive a post-consolidated common share certificate. Non-registered shareholders, who hold securities of the Company through an intermediary, will not receive a letter and do not have to take any action to effect consolidation of their beneficially held securities. Any questions about the letter of transmittal process should be directed to Computershare at 1-800-564-6253.
About Orex Minerals Inc.
Orex Minerals Inc. is a junior mineral exploration company comprised of highly qualified mining professionals with a focus on the exploration of prospective gold and gold-silver properties in Mexico.
Orex will continue to focus its efforts on project generation. The Company's current and long-term business objective is to attract and engage partners to finance exploration and development on its projects, thereby maintaining a close and undiluted share structure.
ON BEHALF OF THE BOARD OF DIRECTORS
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Orex relies upon litigation protection for forward-looking statements.
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.