VANCOUVER, BC / CRWEPRESSRELEASE / September 17, 2015 /Taipan Resources Inc. (CVE:TPN) (“Taipan” or the “Company“) is pleased to announce that it has received the approval of the TSX Venture Exchange to the consolidation of its issued and outstanding common shares on the basis of one new common share for every ten common shares currently issued and outstanding.
The Company’s shares commenced trading on the TSX Venture Exchange on a consolidated basis at the open of markets on Tuesday, September 15, 2015. On a post-consolidation basis, there are approximately 10,548,631 common shares issued and outstanding. The Company’s name and trading symbol will remain the same.
About Taipan Resources Inc.
Taipan Resources Inc. (CVE:TPN) (OTCMKTS:TAIPF) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.
Taipan operates and holds a 66.66% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.
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 NEW RELEASE.
Cautionary Notes RegardingForward Looking Statements
This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance orachievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgmentregarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
SOURCE: Taipan Resources Inc.