92 Resources to roll back one for 10, change name 92 Resources to roll back one for 10, change name
2019-10-05 00:33 MT - News Release
Mr. Adrian Lamoureux reports
92 RESOURCES CORP. ANNOUNCES SHARE CONSOLIDATION AND NAME CHANGE
92 Resources Corp.'s board of directors has approved, subject to the approval of the TSX Venture Exchange, a consolidation of the company's common shares on the basis of one postconsolidated share for every 10 preconsolidated shares.
Currently, the Company has 89,002,456 common shares issued and outstanding. Following the Consolidation, the Company will have approximately 8,900,245 common shares issued and outstanding. No fractional shares will be issued but will instead be rounded as provided for in section 83(1) of the Business Corporations Act (British Columbia).
The Board of Directors of the Company believes that the Consolidation is necessary to better position the Company for future corporate development opportunities and financing transactions. In conjunction with the Consolidation, the Company will be changing its name to "Gaia Metals Corp." The Company also intends to change its trading symbol on the Exchange.
The Company will issue a further news release announcing the effective date in which the Company will commence trading under the new name, symbol and CUSIP number.
About 92 Resources Corp.
92 Resources Corp is a junior mineral exploration company focused on acquiring and advancing strategic and prospective properties that position it strongly for the worlds continuing shift to high tech and green technologies including base and precious metals, and lithium.
The Company's primary assets are the wholly owned Corvette Property and the FCI Property (held under Option from O3 Mining, a recent spin-out from Osisko Mining, for a 75% interest) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-copper-silver-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in surface sample, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC, the Golden Silica Property, BC, and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
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