News Column

Running Fox Resource Corp. - Share Consolidation

June 24, 2014



ENP Newswire - 24 June 2014

Release date- 20062014 - Steven Schurman, CPG, Director, advises that due to the condition of the capital markets the Company will propose a share consolidation at its next meeting of shareholders to be held July 17, 2014.

The share consolidation, or share rollback, would be in a ratio of up to twelve old shares to one new share.

The number of post-consolidation shares issued and outstanding would be dependent on the specific ratio that the common shares would be consolidated.

As at June 20, 2014, a total of 54,770,548 Common Shares in the capital of the Company were issued and outstanding.

Accordingly, following the Consolidation, and assuming a full twelve to one consolidation, a total of 4,564,212 Common Shares in the capital of the Company would be issued and outstanding in the capital of the Company. If a lesser consolidation ratio is chosen then the number of post-consolidation common shares would be higher.

The Company has not determined if a name change is advisable at this time. The rational for a consolidation of its issued and outstanding common shares follows a review of the junior resource capital markets, and an assessment of the Company's growth and strategic objectives, and would provide significant benefits to the company and its shareholders.

Following a consolidation, any share payments as consideration for potential acquisitions would be enhanced, and a reduced total outstanding share count would assist the Company to remain competitive with other competing resource issuers.

A consolidation would not reduce the inherent value of the Company, and it may positively help the Company to achieve objectives.

A shareholder would still own the same percentage of the Company as prior to a share consolidation.

Completion of a consolidation is subject to shareholder approval, and possibly TSX-V approval if the consolidation ratio in any 24 month period exceeds a ten to one (10 to 1) ratio. Fractional post-consolidation common shares would not be issued, fractional shares resulting from a consolidation would be rounded up or down to the nearest whole number and no cash consideration will be paid in respect of fractional shares.

Contact:

Steve Schurman CPG

Director

Running Fox Resource Corp.

Tel: 403 775 9089

www.foxgold.ca


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Source: ENP Newswire


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