Mr. Michael Mulberry reports
AVENTIS ENERGY ANNOUNCES SHARE CONSOLIDATION
Aventis Energy Inc.'s board of directors has approved a consolidation of the common shares of the company on a one-for-10 basis. The company has 94,248,477 common shares outstanding, and, if completed, the proposed consolidation would reduce the issued and outstanding common shares to approximately 9,424,844 common shares.
The company will issue a subsequent news release, following its filing of all necessary documentation with the Canadian Securities Exchange in respect of the proposed consolidation, announcing the effective date of the proposed consolidation, the new Cusip and ISIN for the consolidated common shares, and any other relevant details regarding the proposed consolidation. No fractional common shares will be issued as a result of the proposed consolidation. Any fractional shares resulting from the consolidation will be rounded down to the next whole common share, and no cash consideration will be paid in respect of fractional shares.
The company's board of directors believes that the consolidation will provide the company with greater flexibility for the continued development of its business and the growth of the company, including financing arrangements. There is no change of business associated or being effected with respect of the consolidation. In addition, the company will not be changing its name or stock symbol during the consolidation.
About Aventis Energy Inc.
Aventis Energy is a mineral exploration company dedicated to the development of strategic projects composed of battery, base and precious metals in stable jurisdictions. The company is working to advance its Corvo uranium and Sting copper projects.
The Corvo uranium property has historical drill holes that intersected multiple intervals of uranium mineralization, notably along a strike length of 800 metres between historical drill holes TL-79-3 (0.116 per cent triuranium octoxide over 1.05 metres) and TL-79-5 (0.065 per cent U3O8
over 0.15 m). High-grade uranium at surface was discovered at the Manhattan showing (with outcrop samples grab samples returning up to 8.10 per cent U3O8) and at the SMDI showing 2052 (0.137 per cent U3O8
and 2,300 parts per million thorium).
The Sting copper project covers approximately 3,700 hectares and recently had results of 54.8 m at 0.32 per cent Cu starting at a depth of 27.0 m, with higher-grade intervals including six samples (greater-than-or-equal-to-0.5-metre length) ranging from 0.96 per cent to 5.43 per cent Cu. High-grade samples include 0.5 m at 2.85 per cent Cu and 0.5 m at 1.92 per cent Cu with an additional broader interval of 31.1 m at 0.27 per cent Cu.
We seek Safe Harbor.
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