|Fri Sep 3, 2010|
|September 3, 2010 - Oracle Energy Corp. ("Oracle") (OCL-TSX.V)(O2E-Frankfurt) announces that the TSX Venture Exchange has given final approval to a consolidation of the issued and outstanding shares of Oracle on a 1 new for 8 old basis. The consolidation was approved by the shareholders of Oracle at the Special Meeting held on July 12, 2010.|
The consolidation will be effective at the opening of the market on Tuesday September 7, 2010. Oracle's shares will trade under the new symbol OEC on the TSX Venture Exchange. Oracle has been issued a new Cusip number 68400T208.
After giving effect to the consolidation, Oracle's issued and outstanding shares will be 7,632,137 after dropping fractions on a per holder basis. Outstanding warrants and incentive stock options will be consolidated on the same basis.
ON BEHALF OF THE BOARD
The TSX Venture Exchange has not reviewed and does not accept responsibility for the contents of this news release. Some of the statements contained in this release are forward-looking statements. Forward-looking statements include but are not limited to, statements concerning estimates of recoverable hydrocarbons, expected hydrocarbon prices, expected costs, statements relating to the continued advancement of the Company's projects and other statements which are not historical facts. When used in this document, and on other published information of the Company, the words such as "could," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although the Company believes that its expectations reflected in the forward-looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors could cause actual results to differ from these forward-looking statements including the potential that the Company's projects will experience technical and mechanical problems, geological conditions in the reservoir may not result in commercial level of oil and gas production, changes in product prices and other risks not anticipated by the Company or disclosed in the Company's published material. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. The information contained herein does not constitute an offer of securities for sale in the United States, United Kingdom, Canada, Japan or Australia.