TORONTO, July 20, 2018 (GLOBE NEWSWIRE) -- Galway Gold Inc. (TSX-V:GLW) (OTC PINK:GAYGF)
("Galway Gold" or the "Company")
announces today the completion of the consolidation of its issued and outstanding common shares (the "Common Shares"). The Common
Shares have been consolidated on the basis of one (1) post-consolidation Common Share for every four (4) pre-consolidation Common
Shares (the "Consolidation"). The Consolidation has been approved by the TSX Venture Exchange and the Company’s shareholders at the
Annual and Special Meeting of Shareholders held on June 20, 2018 (the “Meeting”). The Consolidation will be effective as of open of
market on July 20, 2018.
On a post-Consolidation basis, there will be approximately 41,627,979 issued and outstanding Common Shares of
the Company on a non-diluted basis. No fractional Common Shares will be issued as a result of the Consolidation. Where the
Consolidation results in an entitlement to a fraction of a Common Share, that faction will be rounded down to the next whole number
of Common Shares.
The Company has not changed its name in conjunction with the Share Consolidation.
For further information contact: Galway Gold Inc.
Robert Hinchcliffe 1-800-761-2770
www.galwaygoldinc.com
CAUTIONARY STATEMENT: 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
of this news release. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein.
This News Release includes certain "forward-looking
statements" which are not comprised of historical facts.
Forward-looking statements include estimates and statements that
describe the Company's future plans, objectives or goals,
including words to the effect that the Company or
management expects a stated condition or result to
occur. Forward-looking statements may be identified by such
terms as "believes", "anticipates", "expects", "estimates", "may",
"could", "would", "will", or "plan". Since forward-looking
statements are based on assumptions and address future
events and conditions, by their very nature they
involve inherent risks and uncertainties. Although these
statements are based on information currently available to
the Company, the Company provides no assurance that
actual results will meet management's expectations. Risks,
uncertainties and other factors involved with forward-
looking information could cause actual events, results,
performance, prospects and opportunities to differ materially
from those expressed or implied by such forward-looking
information. Forward looking information in this news
release includes, but is not limited to, shareholder
and regulatory approval, and implementation, of the
Consolidation, the Company's objectives, goals or future
plans, statements and development plans and general market
conditions. Factors that could cause actual results to
differ materially from such forward- looking information
include, but are not limited to failure to obtain
Shareholder or regulatory approval for the Consolidation,
delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political
risks, uncertainties relating to the availability and costs
of financing needed in the future, changes in
equity markets, inflation, changes in exchange rates,
fluctuations in commodity prices, delays in the development
of projects, capital and operating costs varying
significantly from estimates and the other risks involved
in the mineral exploration and development industry, and
those risks set out in the Company's public documents
filed on SEDAR. Although the Company believes that
the assumptions and factors used in preparing the
forward- looking information in this news release are
reasonable, undue reliance should not be placed on
such information, which only applies as of the
date of this news release, and no assurance can
be given that such events will occur in the
disclosed time frames or at all. The Company
disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result
of new information, future events or otherwise, other
than as required by law. Neither 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.
