It is expected that on
It is also expected that on
As a result of the Consolidation, the outstanding shares of the Company will be reduced to approximately 72,199,014. Management of the Company believes that the proposed share consolidation will position the Company to gain greater exposure to investors that are not willing to trade equity stocks below a certain threshold and as a result, increase the liquidity of the Company.
For more information on the Name Change and the Consolidation, please refer to the Company’s Management Information Circular dated
Trading on a Consolidated Basis:
New CUSIP: 89157R104
New ISIN: CA89157R1047
Adoption of Stock Option Plan
At the Meeting, Shareholders also approved the adoption of an amended stock option plan (the “Amended Plan”) for the ensuing year. The Amended Plan reserves for issuance 10% of the issued and outstanding shares of the Company on a rolling basis to be issued as options to purchase common shares in the Company. The full text of the Amended Plan is available in the Company’s Management Information Circular dated
About
For more information:
President and Chief Executive Officer + (27) 76 411 3803 Danny.Callow@africangoldgroup.com | Daniyal Baizak Vice President, Corporate Development +1 (647) 835 9617 Daniyal.Baizak@africangoldgroup.com |
Non-Executive Chairman of the Board Jan-Erik.Back@africangoldgroup.com | Camarco (Financial PR) +44 (0) 20 3757 4997 AfricanGoldGroup@camarco.co.uk |
Cautionary statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the completion of the Consolidation, the completion of the Name Change, receipt of regulatory approvals, the estimated completion time of the Consolidation and the Name Change, the expansion of mineral resources and reserves, and drilling and exploration plans of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AGG to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals from the TSX-V and Canadian regulatory authorities; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages; available infrastructure and supplies; the COVID-19 pandemic and other risks of the mining industry. Although AGG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. AGG does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
Source:
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