PNO Resources Ltd. Announces Proposed Share Consolidation

TSXV: PNO.H

VANCOUVER, Nov. 1, 2013 /CNW/ - PNO Resources Ltd. (the "Company") (TSXV: PNO.H) announces that it has convened a meeting of its shareholders to be held on December 2, 2013 at which it will seek shareholder approval to its proposed share consolidation.

The Company will be seeking, by special resolution, the approval of its shareholders to consolidate its outstanding share capital on the basis of 10 pre-consolidation shares for 1 post-consolidation share.  The reasons for the consolidation are to increase the Company's flexibility and competitiveness in the market place and to make the Company's securities more attractive to a wider audience of potential investors.

The Company currently has 74,416,454 common shares issued and outstanding, and after the consolidation, the Company will have approximately 7,441,645 common shares issued and outstanding.  The Company is not expected to change its name in conjunction with the consolidation.

The completion of the consolidation remains subject to shareholder and regulatory approval.

ON BEHALF OF THE BOARD OF DIRECTORS

				"Christy Louth"
Per:
				Christy Louth President and Director

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

SOURCE PNO Resources Ltd.

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