Metalex announce proposal to consolidate shares

About this update from Metalex Ventures Ltd.

[{"type":"text","content":"\n\n\n\nKELOWNA, BC, March 23 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX) ("The\nCompany"), announces a plan to proceed with a consolidation of the common\nshares of the Company on the basis of one (1) "new" common share for ten (10)\n"old" common shares as approved by shareholders at the Company's annual\ngeneral meeting held on November 14, 2008.\n\n\nThere are currently outstanding approximately 93.8 million common shares.\nThe consolidation will reduce the number of common shares outstanding to\napproximately 9.4 million. The Board of Directors believes that a reduced\nnumber of shares will have numerous benefits, including facilitating corporate\nfinance transactions.\n\n\nThe share consolidation remains subject to the acceptance of the TSX\nVenture Exchange.\n\n\n"Chad Ulansky"\n\nChad Ulansky\nPresident and CEO\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release.\n\n\n%SEDAR: 00008159E\n\n\n","length":1100,"tagName":"div"}]

More updates from Metalex Ventures Ltd.