NXA Inc. Completes Consolidation of its Outstanding Common Shares

TORONTO, ONTARIO--(Marketwire - June 11, 2012) - NXA INC. ("NXA") (NXI.V), further to its press release dated June 7, 2012, is pleased to announce that it has completed the consolidation of its outstanding common shares on the basis of one (1) new common share for every (15) fifteen old common shares (the "Consolidation"). Prior to the Consolidation, the Company had 70,151,003 common shares issued and outstanding and after giving effect to the Consolidation, the Company has approximately 4,676,733 Common Shares issued and outstanding.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains forward-looking statements regarding a proposed consolidation of the common shares of NXA and the conversion of convertible securities. Actual developments may differ materially from those contemplated by these statements depending upon, among other things, the decisions made by regulators. The forward looking statements contained in this press release represent the Company's views and expectations as of the date of this release and should not be relied upon as representing its views and expectations at any subsequent date.

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.