VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/24/13 -- Fairmont Resources Inc. (TSX VENTURE: FMR) ("Fairmont") announces that it will proceed with its proposed share consolidation (the "Consolidation"), as announced in its news release dated March 19, 2013, on the basis of four (4) pre-Consolidation common shares for one (1) post-Consolidation common share. The Consolidation was approved by the shareholders of Fairmont at the annual general and special meeting held on April 16, 2013 and will be effective at the open of the market on April 25, 2013 (the "Effective Date").
Fairmont currently has 20,225,433 common shares issued and outstanding. As at the Effective Date, Fairmont will have 5,056,358 common shares issued and outstanding. Fairmont will not change its name as part of the Consolidation, but will issue new share certificates under a new CUSIP number, which is 305554206. Fairmont's common shares will continue to trade on the TSX Venture Exchange under its current symbol "FMR".
Registered shareholders will receive a letter of transmittal from Fairmont with information on how to replace their old share certificates with the new share certificates. Brokerage firms will handle the replacement of share certificates on behalf of their shareholders' accounts.
On behalf of the board,
Neil Pettigrew, Chief Executive Officer and President
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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