CORP ANNOUNCEMENT / Netalco Corp - Name Change & Share Consolidation
SADDLE RESOURCES INC. - NETALCO COMPLETES NAME CHANGE, CONSOLIDATION
CALGARY, ALBERTA--
Netalco Corporation ("Netalco") today announced that it has
received final regulatory approval from the Alberta Stock
Exchange ("ASE") to change its name to Saddle Resources Inc. and
to consolidate its shares on the basis of five old shares for one
new share. The Company will begin trading on the ASE on Tuesday,
January 26, 1999 as Saddle Resources Inc. under the trading
symbol "SRI". Saddle will have a total of 7,735,716 issued and
outstanding shares following the consolidation.
In other news, Saddle is pleased to announce that Kevin D.
Bibault has joined the Company in the position of Manager of
Engineering. Mr. Bibault is a professional Engineer with 10 years
of industry experience specializing in reserve analysis,
reservoir exploitation and production acquisitions. Netalco
Corporation granted Mr. Bibault stock options to acquire 400,000
shares (80,000 shares following the consolidation) as previously
announced on January 20, 1999.
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