CALGARY, 09/22/11 -
Lakota Resources Inc. (the 'Company' or 'Lakota') announces that further to its news release dated September 14, 2011, the Company is proceeding with the share consolidation and name change of the Company, as approved by the shareholders at the annual and special meeting held on August 31, 2011.
The share consolidation will be on the basis of 18 pre-conslidation shares for 1 post-consolidation share, with no fractional shares to be issued. Any fractional post-consolidation shares equal to or greater than one-half will be rounded up to the next whole number, otherwise all fractional shares will be cancelled without compensation. The Company currently has 478,164,143 common shares issued and outstanding. After the consolidation, there will be approximately 26,564,675 common shares issued and outstanding.
Letters of transmittal are being mailed to registered shareholders of the Company requesting them to forward certificates representing their pre-consolidation shares to Alliance Trust Company in exchange for certificates representing the number of post-consolidation shares to which they are entitled in accordance with the instructions contained in the letters of transmittal. Shareholders will also be able to obtain a copy of the letter of transmittal by accessing the Company's SEDAR profile at
www.sedar.com following the effective date of the consolidation.
Concurrent with the share consolidation, the name of the Company will be changed to 'Tembo Gold Corp.'
The name change and consolidation will be effective Monday, September 26, 2011.
For further information regarding Lakota, see Lakota's disclosure documents on SEDAR at
www.sedar.com.
Forward-Looking Statements
Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'plan', 'continue', 'estimate', 'expect', 'may', 'will', 'intend', 'could', 'might', 'should', 'believe' and similar expressions. In particular, this joint news release contains the following forward-looking statements in respect to the effective date of the name change and consolidation. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. With respect to forward-looking statements contained in this news release, the Company has made certain assumptions and although the Company believes that the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements.
Contacts:
Lakota Resources Inc.
Marc Cernovitch
(647) 203-7868
Lakota Resources Inc.
Colin Taylor
(306) 664-4626
