Vancouver, British Columbia--(Newsfile Corp. - January 23, 2024) - K9 Gold Corp. (TSXV: KNC) (FSE: 5GP) (OTCQB: WDFCF) ("K9" or the "Company") announces that the board of directors is proposing to consolidate the company's issued and outstanding common shares on the basis of 1 new common share for every 10 old common shares outstanding or on the basis of such lesser consolidation ratio as may be approved by the board of directors and accepted by the TSX Venture Exchange. The consolidation will increase the company's flexibility and competitiveness in the marketplace and make the company's securities more attractive to a wider audience of potential investors, thereby resulting in a more efficient market for the common shares.
The proposed 1-new-share-for-10-old-share consolidation would result in the number of issued and outstanding common shares of the company being reduced from 90,136,007 common shares without par value to 9,013,601 common shares without par value. The effective date of the share consolidation will occur immediately after exchange approval.
About K9 Gold Corp
K9 Gold Corp has assembled a highly-experienced and dynamic team to explore its JB Lithium Project. K9 also operates the Stony Lake Gold Project in central Newfoundland. The project has been acquired from District Copper Corp by an option agreement, whereby K9 can earn up to a 100% interest in the project (see Company release dated July 30, 2020). The Company also owns a 100% interest in the Desert Eagle Vanadium-Uranium project located in the historic Henry Mountains Mining District in SE Utah. The area has seen extensive historic vanadium and uranium mining and is close to Anfield Energy Inc's Shootaring Canyon mill.
Kosta Tsoutsis
Director
K9 Gold Corp.
email:
Brian Morrison
Chief Financial Officer and Director
K9 Gold Corp.
email:
The Company is listed on the TSX Venture Exchange.
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.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding K9's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits K9 will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including K9's inability to identify transactions having satisfactory terms or at all and the results of exploration or review of properties that K9 does acquire. These forward-looking statements are made as of the date of this news release and K9 assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195366
