TEXADA Software Inc. to Continue to Ontario and Consolidate Its Outstanding Common Shares
TORONTO, ONTARIO–(Marketwire - Oct. 30, 2008) - TEXADA SOFTWARE INC. (TSX VENTURE:TXS) (”Texada” or the “Company”) announces that it intends to continue to Ontario (the “Continuance”) from British Columbia and consolidate its outstanding common shares on the basis of one (1) new common share for every ten old common shares (the “Consolidation”).
Currently, the Company has 87,673,495 common shares issued and outstanding. After giving effect to the Consolidation, it expects to have approximately 8,767,350 common shares issued and outstanding. The Company expects to complete the Continuance immediately prior to the Consolidation. Management believes that the Consolidation is necessary to provide the Company with an outstanding share capital number that will better attract capital financing and that will provide future growth opportunities for shareholders on their investment.
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Published in Market News, October 30th, 2008
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