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Exgen Resources Provides Update on 10 for 1 Consolidation
VANCOUVER, British Columbia, Nov. 10, 2020 (GLOBE NEWSWIRE) -- ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen” or the “Company”) is pleased to announce t
About this update from Exgen Resources Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 10, 2020 (GLOBE NEWSWIRE) -- ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen” or the “Company”) is pleased to announce that, further to its October 27, 2020 news release, effective on or about Friday, November 13, 2020, the Company will complete the consolidation (the “Consolidation”) of its common shares (“Common Shares”) on the basis of 10 pre-Consolidation Common Shares for 1 post-Consolidation Common Share, subject to regulatory approval, including approval of the TSX Venture Exchange (“TSX Venture”). Where the exchange results in a fractional share, the number of Common Shares will be rounded up to the nearest whole Common Share. A new CUSIP number of 30204R200 replaces the old CUSIP number of 30204R101, to distinguish between the pre- and post- consolidated Common Shares. The Company’s name and trading symbol will remain unchanged. The Consolidation is being conducted on a “push-out” basis. Shareholders of the Company, with or without a physical share certificate, do not need to take any action with respect to the Consolidation. Share certificates for the post-Consolidation Common Shares will be mailed on or about November 13, 2020. Existing share certificates will be cancelled. Commencing at the opening of trading on or about Friday, November 13, 2020, the Common Shares of the Company will trade on a post-Consolidation basis on the TSX Venture. Following the Consolidation, there are expected to be 35,093,008 post-Consolidation Common Shares outstanding. About ExGen Resources Inc. ExGen, is a project accelerator that seeks to fund exploration and development of our projects through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and potential cash flow. ExGen intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has 6 projects in Canada and the US. For more information on ExGen please contact ExGen Resources Inc. Jason TongChief Financial OfficerEmail: [email protected] NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the polici...