VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 28, 2013) -
NOT FOR DISSEMINATION IN THE US OR TO US WIRE SERVICES.
WellStar Energy Corp. (TSX VENTURE:WSE.H)(FRANKFURT:W6V1) (the "Company" or "WellStar"), announces that, at its annual and special general meeting held on January 9, 2013, shareholders approved the consolidation of the Company's issued and outstanding common shares at a ratio of 2.5 old shares for 1 new share.
Effective as of the opening of trading on March 28, 2013, the Company's share capital began trading on a post-consolidated basis under the same stock symbol: WSE. WellStar's transfer agent, Computershare, will be mailing letters of transmittal to registered shareholders. The letter of transmittal describes the process by which shareholders may obtain new certificates representing their consolidated common shares. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not need to complete a letter of transmittal. No fractional shares will be issued under the share consolidation, and any fraction will be rounded to the nearest whole number. Following the consolidation, WellStar will have 11,336,557 common shares issued and outstanding All outstanding options of the Company will be adjusted accordingly to reflect the share consolidation.
The directors believe the share consolidation will put the Company in a better position to finance its exploration and development activities. For further information please contact Andrew H Rees at (604) 669-6463.
ON BEHALF OF THE BOARD
Andrew H. Rees, President and Chief Executive Officer
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
These securities have not and will not be registered under the United States Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is available to be relied upon. This news release does not constitute an offer of securities for sale in the United States.
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.
WellStar Energy Corp.