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PFI Canamax Energy Ltd.

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Share Name Share Symbol Market Type
Canamax Energy Ltd. TSXV:PFI 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 -

Petroforte Announces Upcoming Share Consolidation, Name Change and New Ticker Symbol (TSXV: CAC)

20/02/2014 1:30pm

Marketwired Canada


NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Petroforte International Ltd., ("Petroforte" or "the Company") (TSX VENTURE:PFI)
is pleased to announce that it intends to complete the previously announced
share consolidation and name change on Friday, February 21, 2014 (the "Effective
Date"). 


Share Consolidation: 

The Company's issued and outstanding common shares will be consolidated on the
basis of one (1) new common share of the Company for every six (6) existing
common shares on the Effective Date (the "Consolidation"). The Consolidation
received shareholder approval at the annual and special meeting of shareholders
held December 17, 2013 (the "Shareholders' Meeting") and approval from the TSX
Venture Exchange (the "TSXV") on February 19, 2014.  


Both management and the board of directors believes that the Consolidation is in
the best interests of the Corporation's shareholders and is necessary in order
to provide the Corporation with a share capital structure that will better
attract capital financing and enhance future growth opportunities. The
implementation of the Consolidation will not affect the total shareholders'
equity of Petroforte or any components of shareholders' equity as reflected on
Petroforte's financial statements except: (i) to change the number of issued and
outstanding common shares; and (ii) to change the stated capital of the common
shares to reflect the Consolidation.


Name Change and New Ticker Symbol: 

The Company's name will change from "Petroforte International Ltd." to "Canamax
Energy Ltd." on the Effective Date (the "Name Change") and the Company will
simultaneously begin using "CAC" as its new ticker symbol. The board of
directors feels that the new name more accurately depicts the Corporation's
focus on the Canadian energy sector. The Name Change received shareholder
approval at the Shareholders' Meeting and approval from the TSXV on February 19,
2014.


About Petroforte 

Petroforte is a junior oil and gas company headquartered in Calgary, Alberta
engaged in the exploration, development and production of hydrocarbons within
Alberta and Saskatchewan. 


Neither the Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release. 


Forward-Looking Statements

This news release contains forward-looking statements. The use of the words
"may", "believe", "could", "would", "might", or "will be taken", "occur" or "be
achieved" and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Company as of the date of
such statements, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. The forward-looking statements set
forth in this news release are subject to various risks and other factors which
could cause actual results to differ materially from those expressed or implied
in the forward-looking statements. Known and unknown factors could cause actual
results to differ materially from those projected in the forward-looking
statements. You should not place undue importance on forward-looking information
and should not rely upon this information as of any other date. The Company
disclaims any intention or obligation to update or revise any of the
forward-looking statements in this news release, whether as a result of new
information, future events or otherwise, or to explain any material difference
between subsequent actual events and such forward-looking statements, except to
the extent required by applicable law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Petroforte International Ltd.
Kevin Adair
Executive Chair
(604) 724-3212


Petroforte International Ltd.
Allan King
President, CEO & Director
(587) 779-4259

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