Calgary, Alberta (FSCwire) – Synstream Energy Corp. (“Synstream” or the “Company”) (TSXV:SHM) announced today that, subject to regulatory approval, management expects to proceed with a share consolidation approved by shareholders at the Corporation’s annual general meeting held in 2016. The resolution approved at that time authorized management to consolidate the outstanding shares on a 1 for 10 or lesser ratio as the Board of Directors may determine. Presently, the Board intends to pursue a consolidation on a 1 for 5 basis, but intends to consult with both counsel and the TSX-Venture Exchange to ensure the viability of this action based on the date and terms of that resolution.
In concert with taking this step, management intends to further consult with the Exchange for the purpose of assessing potential change of business opportunities identified by the Company and to coordinate pursuit of those opportunities with the planned share consolidation and the change of name approved by shareholders at the Annual General meeting held on March 5, 2018. At this time there are no assurances that any definitive agreement will be reached with any company and no assurances that any financing alternatives will be identified or secured to permit the Company to proceed with the development of any new business opportunities.
For further information, contact:
Johannes Kingma
Chief Executive Officer
(403) 612-5655
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. Although the Corporation believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Corporation can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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Source: Synstream Energy Corp. (TSX Venture:SHM)
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