(TheNewswire)
Vancouver, British Columbia – TheNewswire - June 27, 2022 –Alma Gold Inc. (“ AlmaGold ” or the " Company ")(CSE:ALMA) announces that, pursuant to directors’ resolutions, theCompany will be consolidating all of its issued and outstanding sharecapital (the “ CommonShares ”) on the basis of every ten (10) oldCommon Shares into one (1) new Common Share (the “ Share Consolidation ”), effective July 4, 2022 (the “ Record Date ”).
As a result of the Share Consolidation, the issued andoutstanding Common Shares will be reduced to approximately 6,774,562.Any fractional Common Shares remaining after giving effect to theShare Consolidation will be cancelled. The exercise or conversionprice and the number of Common Shares issuable under any of theCompany’s outstanding convertible securities will be proportionatelyadjusted upon the Share Consolidation.
New ISIN: CA02009L2093
New CUSIP: 02009L209
The Common Shares are expected to begin trading on apost-Share Consolidation basis on the Canadian Securities Exchangewhen markets open on June 30, 2022.
Shareholders of record as at the Record Date willreceive a letter of transmittal providing instructions for theexchange of their Common Shares as soon as practicable following theRecord Date.
The Company believes that the Consolidation will makethe Company more attractive to financing opportunities, and will allowfor the restructuring and settlement of certain existing liabilities.Completion of the Consolidation remains subject to completion ofappropriate regulatory filings with the Canadian SecuritiesExchange.
About Alma Gold Inc.
Alma Gold Inc. is a gold-focused exploration companybased in Bedford, Nova Scotia. Alma Gold Inc. through its subsidiaryKarita Gold Corp. is exploring the Karita West Project in northernGuinea, and owns the Clarence Stream North Gold Project, in southwestNew Brunswick, Canada.
For more information on Alma Gold Inc., please visitour website at: https://almagoldinc.com .
On Behalf of the Board ofDirectors
“GregIsenor”
Gregory Isenor
President & Chief Executive Officer
Alma Gold Inc.
Email: gpisenor@karitagold.com
The CSE has neither approved nordisapproved the contents of this news release. Neither the CSE nor itsMarket Regulator (as that term is defined in the policies of the CSE)accepts responsibility for the adequacy or accuracy of thisrelease.
Forward-LookingInformation
This news release containsforward-looking information which is not comprised of historicalfacts. Forward-looking information is characterized by words such as“plan”, “expect”, “project”, “intend”, “believe”,“anticipate”, “estimate” and other similar words, orstatements that certain events or conditions “may” or “will”occur. Forward-looking information involves risks, uncertainties andother factors that could cause actual events, results, andopportunities to differ materially from those expressed or implied bysuch forward-looking information. Factors that could cause actualresults to differ materially from such forward-looking informationinclude, but are not limited to, changes in the state of equity anddebt markets, fluctuations in commodity prices, delays in obtainingrequired regulatory or governmental approvals, and includes thoserisks set out in the Company’s management’s discussion andanalysis as filed under the Company’s profile at www.sedar.com.Forward-looking information in this news release is based on theopinions and assumptions of management considered reasonable as of thedate hereof, including that all necessary governmental and regulatoryapprovals will be received as and when expected. Although the Companybelieves that the assumptions and factors used in preparing theforward-looking information in this news release are reasonable, unduereliance should not be placed on such information. The Companydisclaims any intention or obligation to update or revise anyforward-looking information, other than as required by applicablesecurities laws.
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