Dec. 3, 2012
/PRNewswire/ -- Consolidation Services Inc. ("CNSV" or the "Company") (OTCBB: CNSV) announced that at its Annual Shareholder Meeting held on
November 30, 2012
, its shareholders approved all matters set forth in the Notice of Meeting dated
October 25, 2012
, including: (i) the proposal to amend Article 4 of the Company's Certificate of Incorporation to effect a reverse split of the outstanding shares of the Company's common stock, in a ratio of one share for every four shares outstanding, and to transfer ownership and title of the Company's existing oil and gas assets and operations into a to-be-formed wholly-owned subsidiary of the Company; and (ii) the proposal to grant authorization to the Board of Directors to amend Article I of the Certificate of Incorporation and change the Company's corporate name.
In addition to re-electing two incumbent Directors, Mr.
Richard S. Polep
, the shareholders also elected two new Directors to the Board; Ambassador
(Ret) and Mr.
Roy R. Tashi
, the Company's CEO, stated, "I would first like to thank our shareholders for their continued support. I believe that the international experience of our new Board Members will better equip Consolidation Services to identify prime business opportunities in rapidly expanding emerging markets, around the globe. Mr. Tashi and Mr. Ussery share a particular interest in the growth potential of the natural resource driven economy of
, among other places."
About Ambassador Michael Ussery (Ret):
Since 1992, former U.S. Ambassador
has led major investments and other business development and humanitarian projects in
, the Mid-East,
, and the
Over the past 20 years, Mr. Ussery has served as an international advisor to eight governments and more than 75 corporations and non-profit organizations. Mr. Ussery is a founder of eight companies and four non-profit organizations, and he has led the planning to create American universities in developing countries.