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Message: Typhoon Consolidates Its Common Shares on a 10 to 1 Basis
| February 16, 2009 |
| Typhoon Consolidates Its Common Shares on a 10 to 1 Basis |
| LAVAL, CANADA--(Marketwire - Feb. 16, 2009) - Typhoon Exploration Inc. ("Typhoon") (TSX VENTURE:TOO) announces that it has filed articles of amendment to effect the consolidation of its issued and outstanding common shares on the basis of one (1) post-consolidation common share for every ten (10) pre-consolidation common shares held. The share consolidation was approved by the shareholders at Typhoon's annual and special meeting of shareholders held on August 28, 2008. It is expected that effective at the opening of trading on Thursday February 19, 2009, Typhoon will begin trading on a post-consolidation basis under the new trading symbol: "TYP". Prior to the consolidation, Typhoon has 92,488,943 common shares issued and outstanding and as a result of the share consolidation, it will have approximately 9,248,894 common shares issued and outstanding. Typhoon sent a letter of transmittal to its registered shareholders indicating the procedure to follow in order to exchange their current share certificates of Typhoon for new post-consolidation share certificates. Shareholders of the Company are invited to carefully follow the procedure outlined in the letter to receive their new share certificates. Additional copies of the letter are on our website at www.explorationtyphon.com. Typhoon believes that it is in the best interest of its shareholders to effect the share consolidation. The low trading prices of Typhoon's publicly traded common shares have had a negative impact on the efficient trading of such common shares and the share consolidation is intended to alleviate such negative impact. |
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