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BW

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0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:BW TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Brookwater to Implement Share Consolidation

31/12/2013 12:00pm

Marketwired Canada


Brookwater Ventures Inc. (TSX VENTURE:BW) will consolidate its common shares on
the basis of one new common share for every 19 common shares outstanding
effective as of December 31, 2013. 


Brookwater currently has 99,328,518 common shares outstanding and, following the
share consolidation on a 19 for one basis, will have approximately 5,227,816
common shares outstanding. The change in the number of issued and outstanding
common shares that will result from the share consolidation will not materially
affect any shareholder's percentage ownership in Brookwater, although such
ownership would be represented by a smaller number of common shares. 


A letter of transmittal will be sent by mail to shareholders advising that the
share consolidation has taken effect and instructing shareholders to surrender
the certificates evidencing their common shares for replacement certificates
representing the number of common shares to which they are entitled as a result
of the consolidation. Until surrendered, each certificate will be deemed for all
purposes to represent the number of common shares to which the holder thereof is
entitled as a result of the consolidation.


The share consolidation was approved by the shareholders of Brookwater at the
annual general and special meeting held on December 5, 2013. Further details
regarding the share consolidation are contained in the Company's Information
Circular dated November 4, 2013, which has been filed under the Company's
profile on SEDAR at www.sedar.com.


About Brookwater:

Brookwater Ventures Inc. is a Canadian independent oil exploration company.

Forward-looking information

This news release contains forward-looking information relating to the Company's
growth and corporate strategy, and other statements that are not historical
facts. Forward-looking information relates to management's future outlook and
anticipated events or results, and may include statements or information
regarding the share consolidation; and the future plans or prospects of the
Company. Although management of the Company has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. 


Forward looking-information is subject to certain factors, including risks and
uncertainties that could cause actual results to differ materially from what is
currently expected. These factors include risks and uncertainties associated
with oil and gas exploration, development, exploitation, delays resulting from
or inability to obtain required regulatory approvals and ability to access
sufficient capital from internal and external sources, reliance on key
personnel, regulatory risks and delays and other risks and uncertainties
discussed in the management discussion and analysis section of the Company's
interim and most recent annual financial statement or other reports and filings
with the TSX Venture Exchange and applicable Canadian securities regulations.
There can be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on
forward-looking information.


The forward-looking statements contained in this news release are made as of the
date of this news release. Except as required by law, the Company disclaims any
intention and assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
Additionally, the Company undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of the matters
discussed above.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Brookwater Ventures Inc.
Ahmed Said
President & CEO
416-309-2963
asaid@forbesenergygroup.com

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