VANCOUVER, Jan. 6, 2020 /CNW/ - Dixie Gold Inc. (TSX
VENTURE: DG) ("Dixie
Gold" or the "Corporation) announces that
effective January 9, 2020 at market
open, the Corporation will consolidate its common shares on the
basis of one (1) new post-consolidation common share for every four
(4) pre-consolidation common shares. The Corporation's common
shares will begin trading on a post-consolidated basis on the TSX
Venture Exchange on January 9,
2020.
The consolidation was approved by the directors of the
Corporation on December 17, 2019 and
has been subsequently accepted by the TSX Venture Exchange.
Following the consolidation, the Corporation will have
approximately 25,662,187 common shares outstanding. The exercise
price and the number of shares issuable under any of the
Corporation's outstanding stock options and warrants, as
applicable, will be proportionately adjusted upon completion of the
consolidation.
No fractional shares will be issued. Each fractional share that
is less than one-half of a share will be cancelled and each
fractional share that is at least one-half of a share will be
rounded up to the nearest whole share.
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 letter of transmittal from
the Corporation's transfer agent, AST Trust Company, as soon as
practicable after the effective date of the consolidation. The
letter of transmittal will contain instructions on how
certificate(s) representing pre-consolidation shares may be
surrendered to AST Trust Company. The transfer agent will forward
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
shares prior to the consolidation will be deemed, for all purposes,
to represent the number of whole post-consolidation shares to which
the holder thereof is entitled as a result of the
consolidation.
The Corporation's name and trading symbol will remain unchanged
however the Corporation will be assuming a new CUSIP number,
25552L201, and a new ISIN number, CA25552L2012.
About Dixie Gold Inc.
Dixie Gold Inc. (TSXV:DG) is a publicly-traded exploration
company involved in a diverse portfolio of exploration projects in
Canada. For more information,
please visit www.dixiegold.ca.
Signed,
Ryan Kalt, Chairman & Chief
Executive Officer
Forward-Looking Statements
This news release contains forward-looking statements.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results
may differ materially from those currently expected or forecast in
such statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Dixie Gold Inc.