CALGARY, ALBERTA–(Marketwired – Nov. 25, 2016) – Questfire Energy Corp. (the “Corporation” or “Questfire“) (TSX VENTURE:Q.A)(TSX VENTURE:Q.B) announces that the Corporation has elected to convert all of its issued and outstanding Class B Common Shares into Class A Common Shares of the Corporation effective November 30, 2016, with a conversion ratio of ten Class A Common Shares for each Class B Common Share so converted, in accordance with the terms of the Articles of the Corporation.
As of the date hereof, Questfire has 550,440 issued and outstanding Class B Common Shares and 17,318,001 issued and outstanding Class A Common Shares. Following the conversion, Questfire expects that it will have 22,822,401 Class A Shares issued and outstanding.
For beneficial shareholders of Class B Shares who hold their shares in an account with their investment dealer or other intermediary, their account will be automatically updated to reflect the conversion. For registered shareholders, share certificates representing the Class A Common Shares issuable as a result of the conversion will be mailed on or about November 30, 2016.
The Class B Common Shares are currently listed and traded on the facilities of the TSX Venture Exchange under the symbol Q.B. It is anticipated that the Class B Common Shares will be de-listed from the TSX Venture Exchange shortly after conversion into Class A Common Shares on November 30, 2016.
About Questfire Energy Corp.
Questfire Energy Corp. is a junior oil and natural gas exploration and production company based in Calgary, Alberta.