[ACCESSWIRE]
VANCOUVER, BC / ACCESSWIRE / December 1, 2016 / Patriot Petroleum Corp. ("Patriot" or the "Company")(TSX-V: PPC) is pleased to announce that the Company has completed a consolidation of its issued and outstanding common shares ("Common Shares") on the basis of one post-consolidation Common Share for every five pre-consolidation Common Shares (the "Consolidation"), has changed its name to Standard Lithium Ltd. (the "Name Change") and has continued (the "Continuance") out of the jurisdiction of the Business Corporations Act (British Columbia) and into the jurisdiction of the Canada Business Corporations Act (the "CBCA").
The Common Shares are expected to begin trading on a consolidated basis and under the Company's new name of Standard Lithium Ltd. on the TSX Venture Exchange at the opening on December 2, 2016. The Company's new trading symbol is SLL.
Prior to the Consolidation, the Company had approximately 106,300,416 Common Shares outstanding. As a result of the Consolidation, the Company now has approximately 21,260,083 Common Shares outstanding.
The Company has been assigned the new CUSIP number 853606101 and new ISIN number CA8536061010.
A letter of transmittal will be mailed to registered shareholders providing instructions to surrender the certificates evidencing their Common Shares for replacement certificates representing the number of Common Shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate representing Common Share prior to the Consolidation will be deemed for all purposes to represent the number of Common Shares to which the holder thereof is entitled as a result of the Consolidation.
As a result of the Continuance, the Company is now a Canadian federal company and the Company has adopted ByLaw No. 1. Copies of the certificate of continuance and By- Law No. 1 have been filed under the Company's profile at www.sedar.com.
The Consolidation, Name Change and Continuance were effected in accordance with the shareholder approvals obtained at the Company's annual and special meeting of shareholders held on November 3, 2016.
On behalf of the board of
PATRIOT PETROLEUM CORP.
Per: "Gavin Cooper"
Gavin Cooper
President and Director
For further information please contact Gavin Cooper at:
Telephone: (604) 639-9051
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. 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 PRESS RELEASE
Disclaimer for Forward-Looking Information:
Certain statements in this news release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. In this release such statements include but are not limited to, the expected resumption of trading of the Company's shares and the timing therefor. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
PATRIOT PETROLEUM CORP.
918 - 1030 West Georgia Street
Vancouver, BC V6E 2Y3
SOURCE: Patriot Petroleum Corp.
