Bowood Energy Inc. Completes Rights Offering, Changes its Name to LGX Oil + Gas Inc. and Consolidates Common Shares

    




 CALGARY, Aug. 20, 2012 /CNW/ - Bowood Energy Inc. ("Company") is pleased  to announce that it has completed its previously announced rights  offering.  Pursuant to the rights offering, the Company issued a total  of 10,639,827 pre-consolidation common shares at a price of $0.05 per  share for gross proceeds of $531,991.35. 

 The Company is also pleased to announce that it has filed articles of  amendment today to change its name to LGX Oil + Gas Inc. and  consolidate its common shares on a 20 to 1 basis.  The consolidated  common shares will commence trading on the TSX Venture Exchange at the  opening of trading on August 22, 2012 under the symbol OIL.  The name  change and consolidation were approved by the shareholders of the  Company at a meeting held on July 5, 2012.  Following the  consolidation, the Company will have a total of 30,278,660 common  shares outstanding. 

 No fractional post-consolidation common shares will be issued and no  cash will be paid in lieu of fractional post-consolidation common  shares. Any fractional common shares resulting from the consolidation  will be rounded to the nearest whole common share. 

 Letters of transmittal for the exchange of certificates of  pre-consolidation common shares for post-consolidation common shares  will be mailed to registered shareholders. Shareholders who do not have  shares registered in their name, such as shareholders holding their  shares through brokerage accounts, will not need to submit a letter of  transmittal. 

 The Company is expected to release its second quarter results on August  28, 2012; concurrent with this release a new website (www.lgxoil.com), along with an updated corporate presentation is expected to be  available. 

 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 news  release.  

Bowood Energy Inc.


CONTACT:  Trent J. Yanko, P.Eng.President + CEOMatt JanischVice President, Finance + CFO4400, 525 - 8th Avenue S.W.Calgary, AB T2P 1G1Telephone: [phone] 


    

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