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Lincoln Announces Effective Date of Share Consolidation, Approval of Option Plan and Loans
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANC...
About this update from Lincoln Gold Mining Inc
[{"type":"text","content":"Lincoln Announces Effective Date of Share Consolidation, Approval of Option Plan and LoansNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / March 3, 2023 / Lincoln Gold Mining Inc. (\"Lincoln\" or the \"Company\") (TSXV:LMG) announces that, further to the Company's press release on January 11, 2023, it is proceeding with a consolidation of its issued and outstanding share capital on the basis of one post-consolidated common share for every ten pre-consolidated common shares (the \"Consolidation\"). No fractional shares will be issued as any fractional share will be rounded to the nearest whole number. The new CUSIP number will be 53359R205 and the new ISIN number will be CA53359R2054. The Company's name and stock symbol will remain unchanged following the Consolidation.The Consolidation is subject to final confirmation by the TSX Venture Exchange (the \"Exchange\"). The Consolidation will be effective at the opening of markets on March 8, 2023. As a result of the Consolidation, it is expected that the 38,663,248 common shares which are currently issued and outstanding will be reduced to approximately 3,866,324 common shares, subject to rounding.Shareholders who hold their common shares through a securities broker or other intermediary and do not have common shares registered in their name will not be required to take any measures with respect to the Consolidation. Letters of transmittal with respect to the Consolidation will be mailed shortly to all registered shareholders of the Company. All registered shareholders who submit a duly completed letter of transmittal along with their respective share certificate(s) representing the pre-consolidated common shares to the Company's transfer agent, Computershare Investor Services, will receive a certificate representing the post-consolidated common shares.Adoption of New Stock Option PlanThe Company is pleased to announce that the shareholders of the Company approved the adoption of a new stock option plan (the \"New Option Plan\") at the Company's annual general meeting held on October 28, 2022 (the \"Meeting\"). The New Option Plan is a 10% rolling stock option plan and was adopted by the board of directors of the Company in order to bring the Company in line with certain amendments made to TSXV Policy 4.4 - Security...