June 1, 2012
Logan Resources Ltd. (TSX-V: LGR) (“Logan”) is pleased to announce the completion of a consolidation of the Company’s common shares (“Common Shares”). At the annual general and special meeting of shareholders held on May 29, 2012 (the “Meeting”), Logan Shareholders approved a consolidation of the Common Shares on the basis of one post-consolidation Common Share for every four pre-consolidation Common Shares. Logan will not issue any fractional Common Shares as a result of the consolidation. Instead, all fractional shares will be rounded down and cancelled. The consolidation was made effective on May 29, 2012 and the Common Shares will begin trading on the TSX Venture Exchange on a post-consolidation basis on or about June 1, 2012. Letters of transmittal will be mailed to shareholders to use to exchange their pre-consolidation Common Shares for post-consolidation Common Shares. A copy of the letter of transmittal will be filed on the Company’s SEDAR profile at www.sedar.com.
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. Logan has a diversified portfolio of precious metal, base metal and uranium projects. For more information on the property portfolio and Logan, please visit www.loganresources.ca.
LOGAN RESOURCES LTD.
On behalf of the Board
President & CEO
For further information regarding this press release, please contact:
Konstantine Tsakumis, Investor Relations
T: 604-681-8030 x 232
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. Forward-looking statements in this document include, but are not limited to, statements about the exploration of Logan’s properties and the completion of the Consolidation. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Logan’s actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of Logan’s common share price and volume and the additional risks identified in the management discussion and analysis section of Logan’s interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Although Logan has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Logan undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.