- Shares to Trade on One-for-Six Consolidated Basis Commencing
November 26, 2007
- New Stock Symbol: MGR
MONTREAL, Nov. 22 /CNW Telbec/ - Murgor Resources Inc. (TSX-V: MUG)
announces that it has filed Articles of Amendment so as to consolidate its
issued and outstanding common shares on the basis of one share for every six
shares issued and outstanding. Murgor's shares will begin trading on the
consolidated basis on the TSX Venture Exchange on Monday, November 26, 2007
under the new stock symbol "MGR".
As a result of the share consolidation, Murgor will have 18,863,155
issued and outstanding common shares, compared to 113,178,931 shares
outstanding prior to the consolidation.
Murgor has effected the share consolidation so as to facilitate future
financings, intended to advance Murgor's Hudvam and Wim deposits to the
production stage. Murgor is currently proposing the completion of feasibility
studies at its Hudvam and Wim deposits by the end of 2008 and by mid-2009,
respectively. Murgor must also finance its continued exploration and work
commitments on its other properties in Manitoba and Saskatchewan.
The consolidation of Murgor's common shares was approved by Murgor's
shareholders at an annual and special meeting of shareholders held on
October 25, 2007, and has received regulatory approval.
Murgor is mailing a letter of transmittal to its registered shareholders,
who are required to exchange their current share certificates for new share
certificates. Shareholders who hold their shares through a securities broker
or dealer, bank or trust company will not be required to take any measures.
Murgor also announces that its shareholder rights plan, adopted at the
annual and special meeting of shareholders held on October 25, 2007, will
enter into effect on November 26, 2007.
The share consolidation and shareholder rights plan were conditionally
accepted by the TSX Venture Exchange and remain subject to its standard final
This news release includes certain "forward-looking statements". All
statements other than statements of historical fact, included in this release,
including, without limitation, statements regarding potential mineralization,
resources and reserves, exploration results, and future plans and objectives
of Murgor, are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause
actual results to differ materially from Murgor's expectations are exploration
risks detailed herein and from time to time in the filings made by Murgor with
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: on Murgor, please visit our website at
www.murgor.com or contact: André C. Tessier, President & CEO, MURGOR RESOURCES
INC., (613) 546-7503, 1-888-891-3330, Fax: (613) 546-7318, email@example.com,