Pemberton's shareholders approve 1:3 consolidation and name change.
CALGARY, Oct. 28 /CNW/ - (TSXV: PBT, FSE: P5W) Pemberton Energy Ltd. ("Pemberton") would like to announce that at its annual general and special meeting held on October 27, 2010, all resolutions, as noted in the information circular, were passed, including a special resolution authorizing the consolidation of the company's common shares on a one-new-for-three-old basis, subject to TSX Venture Exchange approval and the name change from Pemberton Energy Ltd. to Brixton Energy Corp. There are currently 106,339,303 common shares issued and outstanding. If the proposed consolidation of one new share for three old shares is approved by the TSX Venture Exchange, there will be approximately 35,446,434 common shares issued and outstanding. 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 share purchase warrants will also be adjusted by the consolidation ratio, and the respective exercise prices of such options and warrants will be adjusted accordingly. The company will be changing its name in conjunction with the consolidation to Brixton Energy Corp.
On Behalf of Pemberton Energy Ltd.
"Miroslava Antonuk"
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Miroslava Antonuk, Director
We seek Safe Harbor
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
please contact president Richard Saxon at 604-269-0006 or via email [email protected].
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