US Oil Sands Inc. Proceeding with Share Consolidation
CALGARY, ALBERTA December 30, 2016 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV: USO), an innovator of oil extraction technologies, announces that the Company is proceeding with the previously announced share consolidation on the basis of one post-consolidation common share for every 50 pre-consolidation common shares (the "Consolidation") and the outstanding common shares will commence trading on a consolidated basis at the opening of trading on Tuesday, January 3, 2017 on the TSX Venture Exchange under the Company’s existing trading symbol "USO". The shareholders approved the Consolidation at the annual and special meeting of shareholders held on May 18, 2016.
No fractional shares will be issued pursuant to the Consolidation and fractional entitlements will be rounded down to the next lowest whole number of post-consolidated common shares. Registered shareholders will be required to exchange their existing share certificates or DRS advice representing pre-consolidated common shares for post-consolidated common shares, by submitting their old certificates or information respecting the applicable DRS advice, together with a completed and signed Letter of Transmittal, to the Company 's transfer agent, Computershare Trust Company of Canada. Letters of Transmittal will be sent directly to registered shareholders and may also be obtained from Computershare Trust Company of Canada, P.O. Box 7021, 31 Adelaide Street E, Toronto, ON M5C 3H2 Attention: Corporate Actions (Tel: 1-800-564-6253) or downloaded from SEDAR atwww.sedar.com.
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