TORONTO, ONTARIO--(Marketwire -06/07/12)- NXA INC. ("NXA") (NXI.V), further to its press release dated May 14, 2012, announces that it has received approval from the TSX Venture Exchange to consolidate its outstanding common shares on the basis of one (1) new common share for every (15) fifteen old common shares and intends to complete the consolidation effective Monday, June 11, 2012.
A letter of transmittal has been mailed to all registered shareholders to be used by the shareholders to return all existing (pre-consolidation) common share certificates to NXA's transfer agent, Olympia Transfer Services Inc., in order to receive new share certificates reflecting the consolidation.
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.
Shares Outstanding: 70,151,003
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.
Paul Van Damme
Chief Financial Officer