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Troubadour Amends Texas Project Option Agreement and Announces Proposed Consolidation
Vancouver, British Columbia--(Newsfile Corp. - November 30, 2021) - TROUBADOUR RESOURCES INC....
About this update from Troubadour Resources, Inc.
[{"type":"text","content":"Troubadour Amends Texas Project Option Agreement and Announces Proposed ConsolidationVancouver, British Columbia--(Newsfile Corp. - November 30, 2021) - TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) (the \"Company\") is pleased to announce that it has reached an agreement with the Vendor of the Texas Gold project, located in the historic Beaverdell Mining Camp in southern, B.C., to extend the payments due on the Year 1 anniversary of the agreement by up to 6 months for consideration of $5,000. All other terms of the option remain the same.Proposed Share ConsolidationThe Company also wishes to announces that it intends to consolidate its issued and outstanding common shares at a ratio of two and a half (2.5) pre-consolidated shares to one (1) post-consolidation share (the \"Consolidation\"). The purpose of the Consolidation is to facilitate the Company's ability to attract future financings, put the Company in a better position to complete acquisitions and generate greater investor interest.The Company currently has 35,452,835 common shares issued and outstanding. Upon completion of the Consolidation, the Company anticipates there will be 14,181,134 common shares issued and outstanding.\"The share consolidation will put the Company in a better position to create significant value more reflective of its existing assets and any potential new acquisitions. Share consolidations are typically viewed in a negative context, but in this instance, we view it as a very positive move for the Company,\" states Company President Geoff Schellenberg.In accordance with the Company's Articles, the Consolidation is not subject to shareholder approval. The Consolidation is subject to acceptance from the TSX Venture Exchange.About TroubadourTROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) is a public Canadian mining exploration company focused on copper and gold in British Columbia, Canada. The Company is managed by an experienced team consisting of youthful and seasoned professionals with proven track records as mine finders. The newly acquired Texas gold property diversifies the Company's commodity focus and compliments Troubadour's Amarillo copper project located 10 km south of the past-producing Brenda Mine in southern BC and 35 km east of Kodiak Copper's MPD discovery.For further information please contact:Troubadour Resources In...