(TheNewswire)
Vancouver, BritishColumbia - TheNewswire - August 29, 2023 - ESGoldCorp. ( “ESGold” or the “Company” ) (CSE:ESAU ) ( Frankfurt:N2W ) ( OTC:SEKZF) announces that itsboard of directors has approved a consolidation (the“Consolidation”) of the common shares in the capital of theCompany (the “Common Shares”) at a ratio of 10 pre-ConsolidationCommon Shares (the “Existing Shares”) for one post-ConsolidationCommon Share (the “Consolidated Shares”). The Share Consolidationremains subject to the approval of the CanadianSecurities Exchange (the "CSE"). The Company will issue anews release upon receiving CSE approval, announcing the effectivedate of the Share Consolidation. The Consolidated Shares willsubsequently begin trading on a consolidated basis under the existingCompany name and trading symbol.
As a result of the Consolidation, each 10 ExistingShares outstanding will automatically combine into one ConsolidatedShare without any action on the part of the holders, and the number ofoutstanding Common Shares will be reduced from approximately315,159,762 Common Shares to approximately 31,515,976 Common Shares.The Consolidation will also apply to Common Shares issuable upon theexercise of the Company’s outstanding stock options and warrants. No fractional shares will be issued as a result of theConsolidation. In the event a shareholder would otherwise be entitledto receive a fractional share from the Consolidation, the number ofConsolidated Shares to be received by such shareholder shall berounded down to the next highest whole number of Consolidated Shares.
Mr. Therien, CEO of ESGold Corp., stated, “The Boardof Directors considered this consolidation carefully and decided thatthis is a critical move that should be done at this time as itprovides the Company with the solid capital structure that will berequired to take Montauban into production.”
About the Company
ESGold Corp. is a Canadian environmentally aware resourceexploration and processing company. Management has demonstratedexpertise in advancing gold exploration projects into acquisitiontargets, most notably in the province of Quebec. ESGold’s principalrestoration and recovery project is the Montauban property situated inQuebec, just 80 kilometers west of Quebec City.
Pour une traduction française de ce communiqué de presse, veuillezvisiter notre site Web à www.esgold.ca .
For more information on ESGold Corp. please contact theCompany (+1 514-712-1532) or visit the website www.esgold.ca for past newsreleases, 3D model of the Montauban processing plant, media interviewsand opinion-editorial pieces.
Onbehalf of the Board of Directors,
ESGold CORP.
“Jean Yves Therien”
Chief Executive Officer
“John Stella”
Investor contact
Tel: +1 514- 712-1532
Email: info@esgold.ca
This press release contains"forward-looking information" that is based on the Company'scurrent expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company's exploration anddevelopment plans. The words "will","anticipated", "plans" or other similar words and phrases are intended toidentify forward-looking information. Forward-looking informationis subject to known andunknown risks, uncertainties and other factors that may cause theCompany's actual results, level of activity, performance, or achievements to be materiallydifferent from those expressed or implied by such forward looking information.
Neither theCanadian Securities Exchange nor its Regulation Services Provideraccept responsibility for the adequacy or accuracy of thisrelease.
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