Mr. Timothy Turner reports
UNITED HUNTER OIL & GAS CORP. ANNOUNCES SHARE CONSOLIDATION
United Hunter Oil & Gas Corp. has arranged a consolidation of its share capital on the basis of 2.5 existing common shares for one new common share. The share consolidation was previously approved by shareholders at a meeting held on April 30, 2018, and has been approved by the TSX Venture Exchange.
Currently, 43,700,957 common shares of the company are issued and outstanding. With the share consolidation, approximately 17,480,382 common shares of the company will be issued and outstanding. No fractional shares will be issued in connection with the share consolidation and the number of common shares to be received by any one shareholder will be rounded down to the nearest whole number of common shares. The share consolidation is anticipated to become effective on June 7, 2018.
The company's common shares are expected to begin trading on the TSX-V on a consolidated basis under the same trading symbol UHO. The new Cusip (committee on uniform security identification procedures) and ISIN (international securities identification number) numbers for the consolidated common shares are 910624303 and CA9106243038, respectively.
Shareholders who hold their shares through a securities broker or dealer, bank, or trust company will not be required to take any action with respect to the share consolidation. Letters of transmittal will be mailed to the registered holders of the company's common shares, requesting that they forward their preconsolidation share certificates to the company's transfer agent, Computershare, for exchange for new share certificates representing their common shares on a postconsolidation basis.
The share consolidation will also affect the company's granted stock options at the effective date. At the time of the share consolidation, the number and exercise price of all stock options will be adjusted to reflect the share consolidation.
Please refer to the management information circular of the company dated March 26, 2018, for additional details on the share consolidation. The circular is available on the company's profile on SEDAR.
About United Hunter Oil and Gas Corp.
United Hunter is a Canadian-based corporation with management very experienced in the oil and gas industry and with projects in the United States.
We seek Safe Harbor.
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