GCC:CC - Golden Cariboo Announces Effective Date For Share Consolidation
(TheNewswire)
Februa ry 1, 2024 – TheNewswire -- Vancouver, Canada – Golden Cariboo ResourcesLtd. (the “ Company ”) (CSE: GCC ) ( OTC:GCCFF ) ( WKN:A0RLEP) announces that, further toits news release of January 19, 2024, it will effect the consolidation(the “ Consolidation ”) of its common shares (the“ Shares ”) on the basis of one (1) new Sharefor every three (3) old Shares on or about Wednesday, February 7,2024, resulting in the Company havingapproximate ly 14,511,337 Shares issued and outstanding on a post-Consolidationbasis.
The Shares of the Company will begin trading on aconsolidated basis at the opening of trading on or about WednesdayFebruary 7, 2024. The new ISIN of the Company is CA3808134025 andthe CUSIP is 380813402.
Registered shareholders of the Company who hold theirShares in certificate form will receive a letter of transmittal fromthe Company’s transfer agent, Computershare Investor Services Inc.,with instructions for exchanging their pre-Consolidation Shares. Shareholders who hold their Shares through a broker or otherintermediary will not need to complete a letter of transmittal.Shareholders who hold their Shares in DRS format will automaticallyreceive an exchanged DRS advice and will not need to complete a letterof transmittal.
No fractional Shares will be issued as a result of theConsolidation, as any fractional Share will be rounded to the nearestwhole number. Specifically, each fractional Share remaining afterConsolidation that is less than half of a Share will be cancelled andeach fractional Share that is at least half of a Share will be changedto one whole Share.
The Consolidation is intended to make the Shares moreattractive to new and current investors.
AboutGolden Cariboo Resources Ltd.
Golden Cariboo Resources Ltd. is rediscovering theCariboo Gold Rush by proceeding with high-grade targeted drilling andtrenching programs on its Quesnelle Gold Quartz Mine project which isalmost fully encircled on 3 of 4 sides by Osisko Development (NSE-ODV/TSXV-ODV) .His torically, over 101 placer gold creeks on the90 km trend from the Cariboo Hudson mine north to the Quesnelle GoldQuartz mine have recorded production in excess of 2.6 million ouncesof gold up to 1933 (Hall, 1986) and successful placer mining continuesto this day.
Golden Cariboo’s Quesnelle Gold Quartz Mine propertyis 4 km northeast of, and road accessible from, Hixon in centralBritish Columbia. The Property includes the Quesnelle Quartzgold-silver deposit, which was discovered in 1865 in conjunction withplacer mining activities and produced 2,048 tonnes grading 3.14 g/t Auand 4.18 g/t Ag in 1932 and 1939, with an additional 217 tonnes ofunknown grade reported in 1878 (BC Minfile, 2021). Hixon Creek,which dissects the Quesnelle Gold Quartz Mine property, is a placercreek which has seen limited, small-scale placer production since themid 1860's. From Ministry of Mines Reports prior to 1945, estimates ofup to $2,000,000 worth of placer gold was mined from HixonCreek.
GOLDEN CARIBOO RESOURCES LTD.
“J. Frank Callaghan”
J. Frank Callaghan, President &CEO
Neither the “CSE” Canadian Securities Exchange norits Regulation Service Provider (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
This news release containsstatements which constitute “forward-looking information” withinthe meaning of applicable securities laws, including statementsregarding the plans, intentions, beliefs and current expectations ofthe Company with respect to future business activities and plans ofthe Company. Forward-looking information is often identified by thewords “may”, “would”, “could”, “should”, “will”,“intend”, “plan”, “anticipate”, “believe”,“estimate”, “expect” or similar expressions and includesinformation regarding: the number of Shares outstanding following theConsolidation; the effect of the Consolidation on the market for theShares; the treatment of fractional shares in the Consolidation; andthe Company’s exploration plans with respect to its Quesnelle GoldQuartz Mine property.
Such forward-looking statements arebased on a number of assumptions of management, including, withoutlimitation, that the Company will complete the Consolidation; that theCompany will receive the necessary approvals to complete theConsolidation; that the number of Shares outstanding following theConsolidation will be consistent with the number set out herein; thatthe Consolidation will make the Shares more attractive to new andcurrent investors; that the Shares will commence trading on aconsolidated basis in the manner and on the date set forth herein; that registered shareholderswho hold their Shares in certificate form will receive an instructionletter of transmittal from the Company’s transfer agent; thatshareholders who hold their Shares in DRS format will automaticallyreceive an exchanged DRS advice; that the treatment of fractional shareswill align with management’s current expectations; that the Companywill have the resources required to proceed with its explorationplans; and that the Company will not run into regulatory or otherbarriers in carrying out its business plan.
Additionally, forward-looking information involve a variety of knownand unknown risks, uncertainties and other factors which may cause theactual plans, intentions, activities, results, performance orachievements of the Company to be materially different from any futureplans, intentions, activities, results, performance or achievementsexpressed or implied by such forward-looking statements. Such risksinclude, without limitation :that the Company will be unable to complete the Consolidation; thatthe Company will not receive the necessary approvals to complete theConsolidation; that the treatment of fractional shares will differ forthe treatment set out herein; that the Consolidation will not make theShares more attractive to new and current investors; that the Shareswill not commence trading on a consolidated basis in the manner and onthe date set forth herein; that registered shareholders who hold their Shares in certificateform will not receive an instruction letter of transmittal from theCompany’s transfer agent; that shareholders who hold their Shares in DRS format will notautomatically receive an exchanged DRS advice ; that the number of issued andoutstanding shares following the Consolidation will differ for thenumber statement herein; that the Company may incur unanticipatedcosts; that the Company may not have the resources required to pursueits exploration plans; and that the Company’s operations could beadversely affected by possible future government legislation policiesand controls or by changes in applicable laws and regulations. Suchforward-looking information represents management's best judgmentbased on information currently available. No forward-looking statementcan be guaranteed and actual future results may vary materially.Accordingly, readers are advised not to place undue reliance onforward-looking statements or information. Neither the Company nor anyof its representatives make any representation or warranty, express orimplied, as to the accuracy, sufficiency or completeness of theinformation in this news release. Neither the Company nor any of itsrepresentatives shall have any liability whatsoever, under contract,tort, trust or otherwise, to you or any person resulting from the useof the information in this news release by you or any of yourrepresentatives or for omissions from the information in this newsrelease.
The forward-looking statementsherein speak only as of the date they were originally made. TheCompany has no intention and undertakes no obligation to update orrevise any forward-looking statements, whether as a result of newinformation, future events or otherwise, except as required bylaw.
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