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Message: Metalex announce proposal to consolidate shares

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Metalex announce proposal to consolidate shares

posted on Mar 23, 09 02:14PM

KELOWNA, BC, March 23 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX) ("The Company"), announces a plan to proceed with a consolidation of the common shares of the Company on the basis of one (1) "new" common share for ten (10) "old" common shares as approved by shareholders at the Company's annual general meeting held on November 14, 2008.

There are currently outstanding approximately 93.8 million common shares. The consolidation will reduce the number of common shares outstanding to approximately 9.4 million. The Board of Directors believes that a reduced number of shares will have numerous benefits, including facilitating corporate finance transactions.

The share consolidation remains subject to the acceptance of the TSX Venture Exchange.

	    "Chad Ulansky"

	    Chad Ulansky
	    President and CEO

	    The TSX Venture Exchange has not reviewed and does not accept
	    responsibility for the adequacy or accuracy of this release.

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