Business
Network announces board approval to share consolidation
Network announces board approval to share consolidation
About this update from Ynvisible Interactive Inc. Class A
[{"type":"text","content":"\n\n\n\n Jun. 7, 2010 (Canada NewsWire Group) -- Network Exploration Ltd. (the "Company") (TSX.V: NET) announces that further to the Company's May 27, 2010 news release, in particular, shareholder approval at its May 27, 2010 Annual and Special General Meeting to the consolidation of the Company's Common Shares on the basis of one (1) post-consolidated Common Share for every six (6) pre-consolidated Common Shares (the "Consolidation"), the board of directors of the Company has approved the Consolidation, subject to the approval of the TSX Venture Exchange (the "TSX-V"). The Company is the process of completing the Consolidation and will provide further details of the regulatory approval process in due course.\nThe Company currently has 68,958,520 issued and outstanding Common Shares. On a six (6) for one (1) basis (the "Consolidation Ratio"), the Company would have approximately 11,493,087 shares outstanding following the Consolidation. The exact number of post-consolidated shares will vary depending on the treatment of fractional shares which will occur when each shareholder's holdings in the Company are consolidated. Outstanding stock options and warrants would similarly be adjusted by the Consolidation Ratio.\nThe Board does not intend to change the name nor the ticker symbol of the Company upon completion of the consolidation of the Common Shares.\nDetails of the Consolidation are contained in the Company's information circular mailed to the shareholders on April 29, 2010 and filed on SEDAR (www.sedar.com).\n\nAbout Network Exploration Ltd.\n\nNetwork Exploration Ltd. is a mineral exploration Company committed to building shareholder value through the acquisition of base and precious metal properties in North and South America. For additional information, contact the company at 604 638-7363 (toll free 866 637-5138) or visit the Company's website: www.networkexploration.com\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n"Alexander Helmel"\nPresident\n\nNeither 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.\n\nForward looking Statements. This news release has been prepared by management. This document contains certain forward looking s...