NR name change to Goldstone Resources Inc
posted on
Jun 01, 2010 08:38PM
15 Gold properties & 1 Molybdenum resource - Beardmore & Geraldton, N/W Ontario.
Toronto, Ontario, December 22, 2009
– Ontex Resources Limited (“Ontex”) (TSX:
ONT) and Roxmark Mines Limited (“Roxmark”) (TSX-V: RMK) announced today that
they have combined to form Goldstone Resources Inc. (“Goldstone”), a well-positioned
exploration company with an extensive property portfolio in the prolific Beardmore-
Geraldton Greenstone gold belt. Effective today, the companies’ previously announced,
proposed merger (the “Transaction”) was completed, with Roxmark continuing as a
wholly-owned subsidiary of Goldstone.
Pursuant to the Transaction, Ontex also consolidated its common shares on the basis of
one post-consolidation share for every three pre-consolidation shares and changed its
name to Goldstone while Roxmark amalgamated with a wholly-owned subsidiary of
Ontex.
Trading in Roxmark’s common shares will be halted on the TSX Venture Exchange (the
“TSXV”) and its shares are expected to be formally delisted from the TSXV shortly.
Goldstone’s common shares are expected to commence trading on a consolidated basis
on the Toronto Stock Exchange under Goldstone’s new symbol (GRC) on December 24,
2009.
“We are extremely appreciative of the strong support we received from our shareholders
in completing this transaction,” says J. Patrick Sheridan, Jr., Chief Executive Officer of
Goldstone. “We look forward to pursuing a systematic and aggressive exploration
program and continuing to build shareholder value.”
Pursuant to the Transaction, Roxmark shareholders are receiving one post-consolidation
Goldstone common share in exchange for each 3.75 common shares of Roxmark.
Former Roxmark shareholders can obtain certificates for their Goldstone shares by
returning their Roxmark share certificates to Equity Transfer & Trust Company in
accordance with the instructions set out in the joint information circular dated November
18, 2009 and letter of transmittal mailed to shareholders.
Upon completion of the Transaction and the share consolidation, Goldstone has
98,114,593 common shares issued and outstanding and approximately 108,475,933
common shares on a fully diluted basis.