Exxel Energy Corp. Announces Effective Date of Share Consolidation …
Friday, May 30th, 2008Source: FOXBusiness (Original Article)
HOUSTON, TEXAS, May 30, 2008 (Marketwire via COMTEX) —-Share Consolidation and Name Change
Exxel Energy Corp. (TSX VENTURE:EXX) (”Exxel” or the “Company”) announces that
effective today, the Company’s shares will be consolidated on the basis of twenty (20) old shares for one (1) new share (the
“Share Consolidation”). The Share Consolidation was approved by the Company’s shareholders at the Company’s Special General
Meeting held on April 4, 2008. In addition, effective today, the Company’s name will change from “Exxel Energy Corp.” to “XXL
Energy Corp.” (the “Name Change”). The Name Change was previously approved by the Company’s board of directors. The Company
intends to file Articles of Amendment in relation to the Name Change on or about May 30, 2008. Both the Share Consolidation
and the Name Change have been approved by the TSX Venture Exchange.
Immediately prior to the commencement of trading
this morning, the Share Consolidation and Name Change will occur and the Company’s trading symbol will change from “EXX” to
“XL”. Concurrently, the Company’s website address will change from www.exxelenergy.com to www.xxlenergy.com.
Notice
was previously sent to to all warrant and stock option holders describing how the Share Consolidation will affect the number
of shares and the exercise price per share under each holder’s warrants or stock options. No actions, such as the delivery
of warrant certificates or stock option agreements, are required to be taken by holders of warrants or stock options in connection
with the Share Consolidation. The Company also entered into a first supplemental indenture effective May 30, 2008 (the “First
Supplemental Indenture”) to the common share purchase warrant indenture dated August 8, 2007 (the “Warrant Indenture”) between
the Company and Computershare Trust Company of Canada. The First Supplemental Indenture reflects the Name Change and makes
the necessary adjustments Cheap Domains to the exercise price and the …continue reading