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Abstract
Orion Oil & Gas Corporation - (TSX:OIP) (formerly Wintraysan Capital Corp., TSX-V:WTS.P) (the "Corporation") is pleased to announce the completion of the Name Change and Consolidation (as defined below) and its previously announced "Qualifying Transaction" (the "Qualifying Transaction"), as such term is defined in the policies of the TSX Venture Exchange (the "TSX-V"), involving the acquisition (the "Acquisition") of all of the issued and outstanding securities of Orion Oil & Gas Ltd. ("Orion") and certain other corollary transactions. Further, the Corporation announces that the listing of its common shares ("Common Shares") on the Toronto Stock Exchange ("TSX") is expected to occur Monday, January 11, 2010. Finally, the Corporation is pleased to announce that its wholly-owned subsidiary, Orion Oil & Gas (North America) Ltd. ("Orion N.A.") has completed a new $50 million banking facility. Information relating to the Qualifying Transaction was disclosed in the filing statement of the Corporation filed on SEDAR on January 6, 2010. To view this information, readers are directed to the Corporation's SEDAR profile at www.sedar.com.
In connection with the Qualifying Transaction, the Corporation effected a consolidation (the "Consolidation") of its Common Shares on the basis of one (1) new Common Share (a "Post-Consolidation Share") for each two (2) existing Common Shares. In addition, the Corporation changed its name from "Wintraysan Capital Corp." to "Orion Oil & Gas Corporation" (the "Name Change"), to more appropriately reflect its going-forward business and operations.