What does this mean for the stockholders?
MarketwireCangold LimitedMay 26, 2011 - 06:03:15 PMCangold Effects Share ConsolidationVANCOUVER, BRITISH COLUMBIA--(Marketwire - May 26, 2011) - CANGOLD LIMITED(TSX VENTURE:CLD) (the "Company") is pleased to announce that, effective atthe opening of trading on the TSX Venture Exchange tomorrow morning, it willhave completed a consolidation of its share capital on a one for five basis,consolidating its 87,975,745 currently outstanding common shares to 17,595,149following the consolidation. Shareholder authorization to effect the shareconsolidation was approved at the Company's Annual and Special General Meetingheld on December 15, 2010, and the consolidation has been accepted by the TSXVenture Exchange.The Company's name and trading symbol will remain the same. The Company's newCUSIP/ISIN numbers are CUSIP 137588109 / ISIN CA1375881093.Letters of transmittal with respect to the consolidation will be mailed out toall registered shareholders on or about May 30, 2011. All registeredshareholders of the Company will be required to send their certificatesrepresenting pre-consolidation common shares with a properly executed letterof transmittal to the Company's transfer agent, Computershare InvestorServices Inc., in accordance with the instructions provided in the letter oftransmittal. Additional copies of the letter of transmittal can be obtainedthrough Computershare Investor Services Inc. All shareholders who dulycomplete letters of transmittal will receive post-consolidation common sharecertificates. No certificates representing fractional post-consolidationcommon shares will be issued pursuant to the consolidation.Cangold Limited is a junior exploration company engaged in the exploration anddevelopment of gold projects in Mexico and Canada.ON BEHALF OF THE BOARDRobert A. Archer, P. Geo., President & CEOFOR FURTHER INFORMATION PLEASE CONTACT: B&D Capital 604 685 6465 604 899 4303(FAX) info@cangold.ca www.cangold.ca Neither TSX Venture Exchange nor its Regulation Services Provider (as thatterm is defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.