TORONTO, ONTARIO--(Marketwire - Aug. 16, 2012) - United Reef Limited (TSX VENTURE:URP) ("United Reef" or the "Company") is pleased to announce that the Company's common shares will commence trading under its new name NEW KLONDIKE EXPLORATION LTD. ("New Klondike") effective at the open of trading on Friday, August 17, 2012, under the new trading symbol 'NK'. Concurrently with the commencement of trading under the name New Klondike, the Company's presently issued and outstanding common shares will be consolidated on the basis of one (1) New Klondike common share being issued in exchange for each eight (8) United Reef common shares outstanding immediately prior to the consolidation. New Klondike will have approximately 11,142,500 common shares issued at the commencement of trading.
United Reef shareholders approved these matters at the Annual and Special Meeting of Shareholders held on July 13, 2012. Letters of Transmittal are being mailed to registered shareholders with instructions on how to exchange their share certificates.
Management is focused on the completion of the Company's reorganization and advancing the acquisition of a new exploration project. A New Klondike website will be launched in the near future.
Shares issued: 89,139,980
Fully diluted: 94,929,980
NEITHER THE TSX-V NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.