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GGX Gold Proposes 3:1 Share Consolidation
VANCOUVER, BC / ACCESSWIRE / June 5, 2019 / GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA...
About this update from Ggx Gold Corp.
[{"type":"text","content":"GGX Gold Proposes 3:1 Share ConsolidationVANCOUVER, BC / ACCESSWIRE / June 5, 2019 / GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the \"Company\" or \"GGX\") announces that it is proposing to consolidate the outstanding common shares of the Company (the \"Shares\") on the basis of three (3) pre-consolidation Shares for one (1) post-consolidation Share (the \"Consolidation\").Management and the Board of Directors have concluded that the Consolidation is necessary to facilitate new equity investment in the Company to finance continuing business activities and assist in its overall marketing efforts. The Consolidation will not change a shareholder's proportionate ownership in the Company or the rights of holders of Shares. Each Share outstanding after the Consolidation will be entitled to one vote and will be fully paid and non-assessable. There will be no name change in conjunction with the Consolidation.Under the terms of the proposed Consolidation, no fractional Shares will be issued as a result of the Consolidation as any fractional Shares created as a result of the Consolidation will be rounded up or down to the nearest whole number. There are currently 50,848,081 Shares issued and outstanding. Following the Consolidation, there will be approximately 16,949,360 Shares issued and outstanding, subject to treatment of fractional post-Consolidation Shares.The Consolidation is subject to approval by the TSX Venture Exchange.On Behalf of the Board of Directors\"Barry Brown\"Barry Brown, Chief Executive Officer 604‐488‐3900 [email protected] Relations: Mr. Jack Singh, 604-488-3900, [email protected] Looking StatementThis news release contains certain \"forward-looking statements\" within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company's Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words \"expects,\" \"plans,\" \"anticipates,\" \"believes,\" \"intends,\" \"estimates,\" \"projects,\" \"aims,\" \"potential,\" \"goal,\" \"objective,\" \"prospective,\" and similar expressions, or that...