GAMBIER GOLD CORP. Announces Name Change to EGR Exploration Ltd. and Share Consolidation
VANCOUVER, British Columbia – TheNewswire - September 27, 2022 - Gambier Gold Corp. (TSXV:GGAU) (“Gambier” or the “Company”) announces a corporate update changing the Company’s name, trading symbol and its intention to proceed with a share consolidation.
Daniel Rodriguez, CEO & Director, noted “The company is going through a renewal process and these steps are part of that change to becoming an exploration focused company. We are going to follow the best practices in exploration, corporate governance, financing and management practices. The Company is fully focused on advancing our Detour West project.“
Name Change to EGR Exploration Ltd.
Pursuant to a directors’ resolution dated September 26, 2022 and following the receipt of all necessary regulatory approvals, the Company's name will be officially changed to EGR Exploration Ltd. ("EGR"), and EGR’s common shares will start trading on the TSX Venture Exchange under the proposed ticker symbol "EGR".
1 for 3 Share Consolidation
The Company also announces that pursuant to a directors’ resolution dated September 26, 2022 and following the receipt of all necessary regulatory approvals, the Company will consolidate its common shares on the basis of one (1) new post-consolidation common share for every three (3) pre-consolidation common shares (the "Consolidation"). The Company currently has 48,232,330 common shares issued and outstanding and following the completion of the Consolidation, the Company will have approximately 16,077,443 post-consolidation common shares outstanding.
No fractional shares will be issued as a result of the Consolidation. Each fractional share following the Consolidation that is less than one-half of a share will be cancelled and each fractional share that is at least one-half of a share will be rounded up to the nearest whole share. No cash consideration will be paid in respect of fractional shares. All options and warrants outstanding will reflect the change in accordance with the Consolidation. Registered holders of common shares will receive a letter of transmittal from Endeavor Trust Corporation with instructions on how to exchange existing share certificates for new post-Consolidation share certificates.
The Company’s common shares are expected to begin trading on the TSX Venture Exchange on a post-share Consolidation basis after the TSX Venture Exchange issues its final bulletin advising of the effective date.
About Gambier Gold Corp.
Gambier is exploring for gold in the Detour-Fenelon Gold Trend approximately 300 kilometers north of Timmins, Ontario. Gambier’s 39,217 hectare Detour West gold project is contiguous to Agnico Eagle’s property which contains the Detour Lake Gold Mine and is approximately 20 kilometers from the mine which is also hosted in the Abitibi Greenstone Belt.
CEO & Director
Phone: (604) 353-4080
Forward‐Looking Statement (Safe Harbor Statement): This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company's exploration plans. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals. Management has provided the above summary of risks and assumptions related to forward-looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.