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Northern Lion Announces Effective Date of Share Consolidation
Northern Lion Announces Effective Date of Share Consolidation Northern Lion Announ...
About this update from Northern Lion Gold Corp.
[{"type":"text","content":"\n\n\n\nNorthern Lion Announces Effective Date of Share Consolidation\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNorthern Lion Announces Effective Date of Share Consolidation\nCanada NewsWire\nVANCOUVER, Sept. 22, 2016\n\n\n\nTSX-V Symbol: NLFrankfurt Symbol: N3E\n\n\n\nVANCOUVER, Sept. 22, 2016 /CNW/ - Northern Lion Gold Corp. (the \"Company\") announced today that it has received the approval of the TSX Venture Exchange (the \"Exchange\") to proceed with the consolidation of its outstanding common shares (each, a \"Share\") on the basis of two (2) pre-consolidation Shares for each one (1) post-consolidation Share (the \"Consolidation\") previously announced September 1, 2016.  As part of the Consolidation, the Board of Directors have also approved moving to an unlimited share capital.\n\nAccordingly, effective at market opening on September 23, 2016, the Company's Shares will commence trading on the Exchange on a post-Consolidation basis.  Following the Consolidation, the Company will have approximately 1,481,184 Shares issued and outstanding.\n\nNo fractional shares will be issued as a result of the Consolidation. In the event that the Consolidation would otherwise result in the issuance of a fractional share, such fractional share interest that is less than one-half of a Share will be cancelled and each fractional common share that is at least one-half of a Share will be changed to one whole Share.  A Letter of Transmittal with respect to the Consolidation will be mailed to the shareholders of the Company post-Consolidation describing the process by which shareholders may obtain new certificates representing their consolidated Shares.\n\nThe Company also announces that the Exchange has granted the Company an extension to the period by which the Company must satisfy its continued listing requirement deficiency or be transferred to the NEX referenced in the Company's September 1, 2016 news release.  The Company is actively searching for opportunities with interested parties to create a value enhancing transaction that would enable the Company t...