TORONTO, July 09, 2024 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV:NEXG, OTCQX:TSRMF) ("NexGold" or the "Company") is pleased to announce that effective as of today, the Company has changed its name from "Treasury Metals Inc." to "NexGold Mining Corp." and completed a consolidation of the Company's issued and outstanding shares ("Shares") on the basis of one post-consolidation Share for every four pre-consolidation Shares (the "Consolidation"). The Shares will be trading under the symbol "NEXG" on the TSX Venture Exchange ("TSXV") effective as of market open on July 10, 2024.
Morgan Lekstrom, President of NexGold, commented "We believe the name NexGold Mining Corp. will resonate well with shareholders, current and future, as a growth-oriented gold company focused on near term production projects. The advancement of the Goliath Gold Complex is one step in building the vision of a multi-asset gold producer, along with assembling a team of expert mine builders, financiers and long-term supportive shareholders. Momentum and ability to execute place NexGold in a strong position to create long-term shareholder value."
As a result of the Consolidation, the number of issued and outstanding Shares will be reduced from 304,410,407 to approximately 76,102,374, subject to adjustment for rounding. The Consolidation was conditionally approved by the TSXV and the Shares are expected to begin trading on a post-Consolidation basis on the TSXV when markets open on or about July 10, 2024.
In addition, the Company announces that in connection with its previously announced transaction with Blackwolf Copper and Gold Ltd., it has paid a success fee in connection with advisory services to Haywood Securities Inc. Part of this fee was satisfied by the issuance of 1,236,400 pre-consolidation Shares at a deemed price of $0.2022 per pre-consolidation Share. The issuance of these Shares remains subject to the approval of the TSXV and the Shares are subject to a four month and one-day hold period in accordance with ...