Premium Exploration Inc. Completes Share Consolidation
October 01 2013 - 4:20PM
Access Wire
October 1, 2013, Vancouver, British Columbia -
Premium Exploration Inc. (TSXV: PEM; OTC Pink Current:
PMMEF) ("Premium" or the
"Company") announces the completion of the share consolidation
previously announced, and approved by, the Company's board of
directors on August 22nd, 2013. Effective as of the close of business on October 1,
2013, the Company completed a consolidation of all of its issued
and outstanding common shares, at a ratio of ten (10) old shares of
Premium in exchange for every one (1) new share of Premium (the
"Consolidation"). The
Consolidation was approved by the TSX Venture Exchange on October
1, 2013. Prior to the Consolidation, Premium had 143,153,082 common
shares issued and outstanding. Premium now has a total of
14,315,308 common shares issued and outstanding as a result of the
completion of the Consolidation.
The Consolidation
provides Premium with a stronger platform to access equity markets,
raise capital and move the Company's projects forward. Registered
shareholders of the Company will, as soon as practicable, receive a
letter of transmittal from the Company's transfer agent,
Computershare Trust. The letter of transmittal will enable
registered shareholders to exchange their old share certificates
representing pre-Consolidation common shares for share certificates
representing the post-Consolidation common shares.
The Company's common
shares will continue to trade under the stock symbol
"PEM"
and "PMMEF"
respectively.
About Premium
Exploration Inc.
Premium is focused on
gold exploration at its district-sized land package along the Oro
Grande Shear Zone (the "OSZ") in North-Central
Idaho, USA. The OSZ is a 30+ km regionally significant trending
structure with multiple known zones of gold mineralization and,
similar to many large productive gold belts, such as Carlin Trend
in Nevada. Premium has a proven exploration strategy, 30 km of
drill-ready targets, and is well positioned to create shareholder
value through exploration and development of this emerging gold
district. For additional information, please visit us at
www.premiumexploration.com.
For more
information, please contact:
--------------------------------------
|Mr. John Ryan President & Chief |
|Executive Officer Premium |
|Exploration Inc. P: (604) 682-0243 |
|M: (843) 290-8930 F: (604) 682-2499 |
|E: silver4262@yahoo.com |
|info@premiumexploration.com |
--------------------------------------
Neither the 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.
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