/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
CALGARY, Dec. 15, 2016 /CNW/ - DualEx Energy
International Inc. ("DualEx" or the "Company")
(TSX-V: "DXE") announces that at its Annual General and Special
Meeting held today, shareholders voted in favour of changing the
name of the Company (the "Name Change") to Return
Energy Inc. ("Return"), and consolidating the common shares
of the Company (the "Consolidation") on the basis of one (1)
new Return common share for each ten (10) DualEx common shares held
immediately prior to the Consolidation, subject to approval of the
TSX Venture Exchange (the "TSXV").
No fractional common shares will be issued as a result of the
consolidation. Instead, all fractional shares equal to or greater
to one-half resulting from the Consolidation will be rounded to the
next whole number. A new CUSIP number of 76133H102 replaces the old
CUSIP number of 26357W, to distinguish between the pre- and post-
consolidated common shares.
The board of directors of the Company believes that the
Consolidation should enhance the marketability of the common shares
as an investment and should facilitate additional financings to
fund operations in the future.
The Company is anticipating that the Consolidation and Name
Change will be effected on or about Tuesday,
December 20, 2016. Commencing at opening of trading on
Tuesday, December 20, 2016, the
common shares of the Company will trade on the TSXV under the
symbol "RTN". Following the Consolidation, there are expected to be
25,008,893 post-Consolidation common shares outstanding.
Further details with regards to the Name Change and
Consolidation are contained in the management information circular
of the Company dated November 10,
2016, a copy of which is available electronically at
www.sedar.com.
In addition to the Name Change and Consolidation, shareholders
of the Company re-elected Garry
Hides, Roy Hudson,
Brad Porter, Robb Thompson, and Ken
Tompson to the Company's Board of Directors for the ensuing
year.
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.
Forward Looking Statements
This news release contains certain statements which constitute
forward-looking statements or information ("forward-looking
statements"), including statements regarding the Company's
business and the proposed Consolidation. Such forward-looking
statements are subject to numerous risks and uncertainties, some of
which are beyond the Company's control. Although the Company
believes that the expectations in its forward-looking statements
are reasonable, they are based on factors and assumptions
concerning future events which may prove to be inaccurate. Those
factors and assumptions are based upon currently available
information. Such statements are subject to known and unknown
risks, uncertainties and other factors that could influence actual
results or events and cause actual results or events to differ
materially from those stated, anticipated or implied in the forward
looking statements. As such, readers are cautioned not to place
undue reliance on the forward looking statements, as no assurance
can be provided as to future results, levels of activity or
achievements. The forward-looking statements contained in this
document are made as of the date of this document and, except as
required by applicable law, the Company does not undertake any
obligation to publicly update or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements
contained in this document are expressly qualified by this
cautionary statement.
SOURCE DualEx Energy International Inc.