Bowood Energy completes rights offering, changes name and consolidates shares

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CALGARY - Bowood Energy Inc. (TSXV:BWD) said Monday it has completed its previously announced rights offering, moved to change its name change to LGX Oil and Gas Inc. and will consolidate its common shares.

Under the rights offering, the Calgary-based company issued 10.6 million shares at five cents per share for gross proceeds of $531,991.

Bowood said it filed articles of amendment to change its name as approved by shareholders in July and consolidate share on a 20 to one basis. The consolidated common shares will start trading on the TSX Venture Exchange on Wednesday under the symbol TSXV:OIL.

The company will have a total of nearly 30.3 million common shares outstanding.

Organizations: Bowood Energy, LGX Oil and Gas, TSX Venture Exchange

Geographic location: CALGARY

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