CALGARY, Sept. 8, 2014 /CNW/ – At a meeting held today, the shareholders of Seven Generations Energy Ltd. (“7G” or the “Company”) approved a two-for-one share split of the Class A Common Shares of the Company. Kent Jespersen, Chairman of 7G’s Board of Directors, told those in attendance at the meeting that the share split makes 7G’s shares more affordable for employees and other small shareholders. The share split is effective today. As a result of the share split, (a) holders of Class A Common Shares now own two Class A Common Shares for every Class A Common Share held immediately prior to the share split, and (b) holders of the non-voting Class B Common Shares (including Class B Common Shares received on the exercise of stock options and other equity based compensation) will now receive two Class A Common Shares for each Class B Common Share converted.
About the Company
Seven Generations Energy Ltd. is a private, Canadian company engaged in the development of the Kakwa River Project (the “Project”). Located approximately 100 kilometers south of Grande Prairie, Alberta, the Project is a tight liquids rich gas and light oil project, in the early stages of development, and contains an estimated potential capacity to produce more than 2 billion cubic feet per day of natural gas and more than 200 thousand barrels per day of natural gas liquids (including condensate). 7G has a Corporate headquarters in Calgary, Alberta and an Operations headquarters in Grande Prairie, Alberta.
Seven Generations Energy Ltd.
Suite 300, 140 – 8th Avenue SW
Calgary, AB T2P 1B3
SOURCE Seven Generations Energy Ltd.
For further information: Pat Carlson, CEO, 403-718-0700