Oromonte announces effective date of share consolidation and name change to Georox Resources Inc.

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[{"type":"text","content":"\n\n\n\nNELSON, BC, Aug. 25 /CNW/ - Oromonte Resources Inc. ("Oromonte" or the\n"Company") (ORR:TSX-V; OF6:FRA) announces that it has implemented its\npreviously approved share consolidation on a three for one basis (the\n"Consolidation") and a name change to "Georox Resources Inc." (the "Name\nChange"). The share consolidation and name change were approved at the\nCompany's Annual and Special Meeting of Shareholders held on June 30, 2008\nwith 86.9% of the votes cast in favour of the Consolidation and Name Change.\n\n\nEffective at the market opening August 26, 2008, the Company's common\nshares and common-share purchase warrants currently listed on the TSX Venture\nExchange under the symbols ORR and ORR.WT respectively, will commence trading\nunder the new name Georox Resources Inc. under the new symbols GXR and GXR.WT\nrespectively, and on a post-Consolidation basis.\n\n\nPrior to the Consolidation, the Company had issued capital of 30,703,553\ncommon shares and 30,703,553 common shares on a fully diluted basis. As a\nresult of the Consolidation, the Company has approximately 10,234,518 common\nshares outstanding and approximately 10,234,518 common shares on a fully\ndiluted basis. Outstanding common share purchase warrants and stock options\nhave been adjusted to reflect the Consolidation and notice of the\nConsolidation and the adjustments will be provided to holders of common share\npurchase warrants on August 26, 2008.\n\n\nThe Board of Directors believes that the anticipated higher share price\nresulting from the Consolidation will assist in generating investor interest.\nThere can be no assurance that any increase in the market price per common\nshare will result from the Consolidation and there is no assurance that a\nhigher share price will generate increased investor interest.\n\n\nLetters of transmittal will be mailed to registered holders of common\nshares on August 26 2008, requesting them to forward the certificates\nrepresenting their common shares of Oromonte Resources Inc. to CIBC Mellon\nTrust Company in exchange for certificates representing the number of common\nshares of Georox Resources Inc. to which they are entitled.\n\n\nAbout Georox Resources Inc. (formerly Oromonte Resources Inc.)\n\n\nGeorox Resources Inc. is a mineral exploration company engaged in ...

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