Toronto, Ontario--(Newsfile Corp. - August 31, 2020) - Stakeholder Gold Corporation (TSXV: SRC) ("Stakeholder" or the "Company") announces a share consolidation which is anticipated to take place on or after September 4, 2020. The Company proposes to consolidate common shares on the basis of one (1) new post-consolidation common share for every eight (8) pre-consolidation common shares (the "Consolidation"). Effective at the start of trading on or after the date of September 4, 2020, common shares of the Company will begin to trade on the Exchange on a consolidated basis. The number of common shares of the Company outstanding, post-consolidation, will be approximately 6,551,957.
As a result of the Consolidation, the Company's currently outstanding 52,415,662 common shares will be reduced to approximately 6,551,957 common shares. No fractional shares of the Corporation will be issued, and any fractional shares resulting from the Consolidation will be deemed to have been tendered for cancellation by the registered owner. The Company's name and trading symbol will remain unchanged. The Company will not be changing its name or completing any other restructuring in connection with the Consolidation. The Consolidation was approved by the shareholders of the Company on November 29, 2019 and is subject to final approval by the TSX Venture Exchange.
The Company's new CUSIP number is 85255R301 and the new ISIN number is CA CA85255R3018.
Registered shareholders will be required to exchange their share certificates representing pre- consolidation common shares for new share certificates representing post-consolidation common shares. Registered shareholders will be sent a transmittal letter after the effective date of the Consolidation. The transmittal letter will contain instructions on how certificate(s) representing pre-consolidation shares may be surrendered to the Company's transfer agent, Computershare Investor Services Inc. The transfer agent will forward to each registered shareholder who has provided the required documents, a new share certificate representing the number of post-consolidation common shares to which the shareholder is entitled. Until surrendered, each share certificate representing pre-consolidation common shares of the Company will be deemed for all purposes to represent the number of whole post-consolidation common shares to which the holder is entitled as a result of the Consolidation.
For further information please contact:
Stakeholder Gold Corporation
Telephone: (416) 548 - 9749
Forward Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward- looking information. The forward-looking information is based on current expectations and applies only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.
The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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