GCC - Golden Cariboo to Consolidate Common Shares
(TheNewswire)
January 19, 2024 -- TheNewswire-- Vancouver, Canada – Golden CaribooResources Ltd. (the “ Company ”) (CSE: GCC ) ( OTC:GCCFF ) ( WKN:A0RLEP) announces that subject to the approval of the Canadian Securities Exchange(“ CSE ”), it will be proceeding with the consolidation (the“ Consolidation ”) of all of its issued and outstanding common shares (the“ Shares ”) on the basis of one (1) new Sharefor every three (3) old Shares held resulting in the Company having approximately 14,511,337 Shares issued andoutstanding on a post consolidated basis. The record date, expectedpost-consolidation trading date and new CUSIP number will be announcedafter final approval by the CSE.
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. Shares will be rounded down to the nearest wholeShare.
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, whichdissects the Quesnelle Gold Quartz Mine property, is a placer creekwhich has seen limited, small-scale placer production since the mid1860's. From Ministry of Mines Reports prior to 1945, estimates of upto $2,000,000 worth of placer gold was mined from Hixon Creek.
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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; and the treatment of fractional shares in theConsolidation.
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; and that the treatment of fractional shares willalign with management’s current expectations.
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; and that thenumber of issued and outstanding shares following the Consolidationwill differ for the number statement herein. Such forward-lookinginformation represents management's best judgment based on informationcurrently available. No forward-looking statement can be guaranteedand actual future results may vary materially. Accordingly, readersare advised not to place undue reliance on forward-looking statementsor information. Neither the Company nor any of its representativesmake any representation or warranty, express or implied, as to theaccuracy, sufficiency or completeness of the information in this newsrelease. Neither the Company nor any of its representatives shall haveany liability whatsoever, under contract, tort, trust or otherwise, toyou or any person resulting from the use of the information in thisnews release by you or any of your representatives or for omissionsfrom the information in this news release.
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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