I'd say the ratio should have been more like 10 or 15 : 1....oh well...at least the "New Guys" are culling some of the Old Rats still in this deal ; )

ORIGINAL: GAMBIER GOLD CORP. Announces Name Change to EGR Exploration Ltd. and Share Consolidation

2022-09-27 04:01 ET - News Release

(via TheNewswire)

Gambier Gold Corp
 

VANCOUVER, British Columbia - TheNewswire - September 27, 2022 - Gambier Gold Corp. (TSXV:GGAU) ("Gambier " or the "Company ") announces a corporate update changing the Company's name, trading symbol and its intention to proceed with a share consolidation.

Daniel Rodriguez, CEO & Director, noted "The company is going through a renewal process and these steps are part of that change to becoming an exploration focused company. We are going to follow the best practices in exploration, corporate governance, financing and management practices. The Company is fully focused on advancing our Detour West project."

Name Change to EGR Exploration Ltd.

Pursuant to a directors' resolution dated September 26, 2022 and following the receipt of all necessary regulatory approvals, the Company's name will be officially changed to EGR Exploration Ltd. ("EGR"), and EGR's common shares will start trading on the TSX Venture Exchange under the proposed ticker symbol "EGR".

1 for 3 Share Consolidation

The Company also announces that pursuant to a directors' resolution dated September 26, 2022 and following the receipt of all necessary regulatory approvals, the Company will consolidate its common shares on the basis of one (1) new post-consolidation common share for every three (3) pre-consolidation common shares (the "Consolidation"). The Company currently has 48,232,330 common shares issued and outstanding and following the completion of the Consolidation, the Company will have approximately 16,077,443 post-consolidation common shares outstanding.

No fractional shares will be issued as a result of the Consolidation. Each fractional share following the Consolidation 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. No cash consideration will be paid in respect of fractional shares. All options and warrants outstanding will reflect the change in accordance with the Consolidation. Registered holders of common shares will receive a letter of transmittal from Endeavor Trust Corporation with instructions on how to exchange existing share certificates for new post-Consolidation share certificates.

The Company's common shares are expected to begin trading on the TSX Venture Exchange on a post-share Consolidation basis after the TSX Venture Exchange issues its final bulletin advising of the effective date .

About Gambier Gold Corp.

Gambier is exploring for gold in the Detour-Fenelon Gold Trend approximately 300 kilometers north of Timmins, Ontario. Gambier's 39,217 hectare Detour West gold project is contiguous to Agnico Eagle's property which contains the Detour Lake Gold Mine and is approximately 20 kilometers from the mine which is also hosted in the Abitibi Greenstone Belt.

For further information contact:

Daniel Rodriguez
CEO & Director
Phone: (604) 353-4080
Email: drodriguez@gambiergold.ca