Attached files
Exhibit 99.1
NOVEMBER 16, 2009 LUXE: OTC-BB
LUX ENERGY CORP ANNOUNCES CAPITAL RE-ORGANIZATION DATE
Shane Broesky, President is pleased to announce that the application for a
capital re-organization has been approved by the regulatory agencies.
Effective December 1, 2009, the capital of the Company will effect a 3 for 1
split whereby the total outstanding shares are increased from 25,250,000 to
75,750,000.
Mr. Broesky advises that this transaction resulted from discussions and
recommendations from various financial groups. Whereas the Company will
entertain proposals from investment institutions to fund capital for the
Company's growth and expansion strategy, the expansion of the corporate capital
base would more readily attract capital at more favorable terms for the Company
and its' current shareholders.
The President confirms that equity capital is precedent to the plans for
continued investment expansion in the West Central Alberta projects that to-date
have resulted in reserve and production capacities far exceeding the Company's
expectations.
In addition, Lux Energy has completed negotiations subject to legal review and
confirmation for an initial entry into a significant oil and gas development and
exploration project in Northeastern British Columbia. Details for this project
will be announced shortly. Broesky stated that this opportunity is paramount for
the development of reserves, production and cash flow. We are very fortunate to
gain access to this extremely prominent petroleum venture.
A copy of the filed information can be found for viewing by electronic means by
viewing the Company's filings on www.sec.gov.
LUX ENERGY CORPORATION
Lux Energy is an oil and gas production and exploration company focusing on
developing oil and gas resources in North America.
For further information please visit www.luxenergycorp.com or contact Shane
Broesky at:
CORPORATE OFFICE
Suite 510 - 640 8th Ave S.W.
Calgary, Alberta, T2P 1G7
Canada
(403) 775-1730
info@luxenergycorp.com
FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in
this press release are forward-looking statements. Actual results may differ
materially from those described in forward-looking statements and are subject to
risks and uncertainties. See Lux Energy's filings with the Securities and
Exchange Commission which identify specific factors that may cause actual
results or events to differ materially from those described in the
forward-looking statements