|Thu Dec 28, 2017|
Oracle Announces Share Consolidation
|Vancouver December 27, 2017 Oracle Energy Corp. ("Oracle" or the "Company") (TSX.V:|
OEC) (Frankfurt: O2E) announces the following:
The Company is pleased to announce that, further to its November 30, 2017 news release it
has received TSX Venture Exchange approval to consolidate its share capital on the basis of
one (new) post consolidation share for each ten (old) pre-consolidation shares (the
"Consolidation"). Shares of the Company will commence trading on a consolidated basis
as of December 27, 2017.
The board of directors of the Company believes that the Consolidation is necessary to
better position the Company for future corporate development opportunities and financing
transactions. There will be no name change in conjunction with the Consolidation.
The Company currently has 62,500,131 common shares issued and outstanding. Following
the Consolidation, it is anticipated that the Company will have approximately 6,250,017
common shares issued and outstanding, and continue to trade on the TSX Venture
Exchange under the existing stock symbol "OEC".
The exercise or conversion price and the number of common shares issuable under any of
the Company's outstanding warrants and stock options will be proportionately adjusted to
reflect the Consolidation in accordance with their respective terms thereof. No fractional
common shares will be issued pursuant to the Consolidation, and any fractional common
shares that would otherwise be issued will be rounded down or up to the nearest whole number.
ON BEHALF OF THE BOARD OF DIRECTORS.
Peter Francis, CEO
About Oracle Energy Corp.
Oracle Energy Corp. (TSX.V: OEC) (Frankfurt: O2E) is an international oil and gas exploration and development company.
For more information on Oracle Energy visit www.OracleEnergy.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward- looking statements in this release are made pursuant to the 'safe harbour' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.