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CGX Energy Inc. announced the completion of the consolidation of issued and outstanding common shares.

The common shares consolidation was approved by the TSX Venture Exchange and the Company's shareholders at the Annual and Special Meeting of Shareholders last June 26. The consolidation will take effect as the market opens on June 11.

CGX Energy Inc. is also in the process of consolidating its issued and outstanding warrants and options on a ten-for-one basis. The result for each consolidated warrant and stock option will now entitle the holder to acquire one common share in the capital of the CGX Energy Inc at an exercise price equal to ten times the set original exercise price.

CGX Energy Inc. will not change its name as part of the Consolidation, but instead will issue new share certificates under new CUSIP numbers, 125405506 and 125405605.

The common shares for CGX Energy Inc continue to trade on the TSX Venture Exchange under its current symbol "OYL".