Emgold Announces Completion of Share Split and Change of Name to Emergent Metals Corp.
VANCOUVER, BC / ACCESSWIRE / March 15, 2022 / Emgold Mining Corporation (TSXV:EMR)(OTCQB:EGMCF)(FRA:EMLM)(BSE:EMLM) (“emgold“or the”Company“) announces that it has received regulatory approval for a consolidation (the “Consolidation“) of the issued and outstanding ordinary shares of the Company on the basis of ten (10) pre-Consolidation shares for one (1) post-Consolidation share. The Consolidation has already been announced in the Company’s press release dated March 1, 2022. In conjunction with the Consolidation, the Company also received regulatory approval to change its name from Emgold Mining Corporation to Emergent Metals Corp. (“emerging“)
Prior to the combination, Emgold had 136,182,621 common shares issued and outstanding. After the consolidation, the Company will have approximately 13,618,221 common shares issued and outstanding, subject to rounding of fractional shares. The shares will trade under the new CUSIP number 29103R105 and ISIN number CA29103R1055. The Company’s ticker symbol on the TSX Venture Exchange will remain the same. The shares are expected to begin trading on a consolidated basis on or about March 17, 2022 (the “Effective date“).
No fractional shares will be issued following the Consolidation. Any fraction of a share equal to or greater than one-half resulting from the Consolidation will be rounded up to the next higher whole number of ordinary shares, and any fraction of a share less than one-half resulting from the Consolidation will be rounded down to the nearest whole number. . The exercise price and the number of common shares of the Company issuable upon the exercise of stock options, warrants or other outstanding convertible securities will be adjusted proportionately to reflect the grouping.
A Letter of Transmittal will be mailed to shareholders of record by Computershare Trust Company of Canada (“computer sharing“) advising that the consolidation and name change have become effective. The letter of transmittal will contain instructions on how registered shareholders may exchange their share certificates or DRS statements evidencing their pre-consolidated common shares for new share certificates or new DRS statements representing the number of post-consolidation common shares to which they are entitled No action is required from non-registered shareholders (shareholders who hold their shares through a intermediary) to perform the consolidation and renaming.
The Board believes that the Consolidation will provide the Company with greater flexibility for the continued development of its business and the growth of the Company, including financing arrangements.
Emgold is a gold and base metals exploration company focused on Nevada and Quebec. The Company’s strategy is to seek quality acquisitions, add value to these assets through exploration and monetize them through sales, joint ventures, options, royalties and other transactions in order to create value for our shareholders (acquisition and divestiture (A&D) business model) .
In Nevada, Emgold’s Golden Arrow property, the company’s core asset, is an advanced stage gold and silver property with a well-defined measured and indicated resource. New York Canyon is a base metals property subject to a joint venture option acquisition agreement with Kennecott Exploration, a subsidiary of Rio Tinto Plc (NYSE: RIO). The Mindora property is a gold, silver and base metal property located twelve miles from New York Canyon. Buckskin Rawhide East is a gold and silver property leased to Rawhide Mining LLC, operator of the adjacent Rawhide mine.
In Quebec, the Casa Sud property is an early-stage gold property adjacent to Hecla Mining Corporation (NYSE: HL) operating the Casa Berardi mine. The East-West property is a gold property adjacent to the Wesdome Ltd. gold mine. (TSX: WDO) Kiena Complex and O3 Mining Corporation (TSX: OIII) Malarctic Property (Marban Project). The Trecesson property is located approximately 50 km north of the Val d’Or mining camp. Emgold also has an NSR of 1% in the Troilus North property, part of the Troilus mine property explored by Troilus Gold Corporation (TSX:TLG).
Note that the location of Emgold Properties adjacent to producing or past producing mines does not guarantee successful exploration on Emgold Properties or that Mineral Resources or Mineral Reserves will be delineated. For further information on the Company, investors are invited to visit the Company’s website at www.emgold.com or consult the documents filed by the Company available at www.sedar.com.
On behalf of the Board of Directors
David G. Watkinson, P.Eng.
President and CEO
For more information, please contact:
David G. Watkinson, P.Eng.
Tel: 530-271-0679 ext. 101
Email: [email protected]
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.
Caution Regarding Forward-Looking Statements
Certain statements made and information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities laws. These statements and information are based on facts currently available to the Company and there can be no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified by terms such as “expects”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could”. ” or ” would like “. The forward-looking statements and information contained herein are based on certain factors and assumptions relating to, among other things, the estimation of mineral resources and reserves, the making of resource and reserve estimates, metal prices, taxation, the estimate, timing and amount of future exploration and development, capital and operating costs, availability of financing, obtaining regulatory approvals, environmental risks, property and ‘other questions. Although the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance, and readers should not place undue reliance on such statements, as actual events and results may differ. substantially from those described here. The Company does not undertake to update any forward-looking statements or information except as required by applicable securities laws. The Company’s Canadian public disclosure documents can be viewed via www.sedar.com and readers are urged to review these documents, including all technical reports filed with respect to the Company’s mineral properties.
THE SOURCE: Emgold mining company
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