VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 25, 2012) - MANNIX RESOURCES INC. ("Mannix Resources" or the "Company") announces that effective July 25, 2012, the Company consolidated its common shares (the "Consolidation") on the basis of one (1) post-consolidation common share for every ten (10) pre-consolidated common shares held (the "Consolidation Ratio").
The Consolidation was approved by the shareholders at the Company's Annual General and Special Meeting held on March 29, 2012 (the "Meeting"). As at the date of the Meeting, the Company had 4,727,134 common shares issued and outstanding and the Company will have approximately 472,713 common shares issued and outstanding post-consolidation. The exact number of post-consolidated shares will vary depending on the treatment of fractional shares which will occur when each shareholder's holdings in the Company are consolidated. The Company's new CUSIP number is 564001204.
Letters of transmittal with respect to the Consolidation are being mailed to all registered shareholders of the Company on July 26, 2012. All registered shareholders will be required to send their respective certificates representing the pre-consolidated common shares along with a properly executed letter of transmittal to the Company's transfer agent, Computershare Investor Services Inc. ("Computershare"), in Toronto, Ontario, all in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through Computershare (Shareholder Services 1-800-564-6253 or by e-mail to firstname.lastname@example.org). All shareholders who submit a duly completed letter of transmittal, along with their respective pre-consolidated common share certificate(s) to Computershare, will receive a post-consolidated common share certificate.
Further details of the Consolidation are contained in the Company's information circular dated February 20, 2012, available on SEDAR (www.sedar.com).
About Mannix Resources Inc.
Mannix Resources' principal business activity is in the acquisition and exploration of resource properties. Mannix Resources is a Canadian resource company and is a reporting issuer in the provinces of British Columbia and Alberta. The Company is in the process of investigating resource properties for the purpose of acquiring a suitable resource property. Additional information may be obtained under the Company's profile on SEDAR (www.sedar.com).