SearchGold Resources Inc. announces results of special meeting of shareholders and intention to proceed with share consolidat...
October 07 2011 - 5:01AM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/ Symbol : RSG - TSXV S1O -
FSE TORONTO, Oct. 7, 2011 /CNW/ - SearchGold Resources Inc. is
pleased to announce that at a special meeting of shareholders held
earlier today in Montreal, Quebec, shareholders of the Company
approved the: (i) consolidation of the Company's issued and
outstanding common shares; (ii) a change in the registered office
of the Company from Quebec to Ontario; and (iii) new short-form
by-laws which conforms with relevant statutory provisions.
Following the successful results of the shareholder meeting, the
Board of Directors of the Company approved proceeding to initiate
the share consolidation and submit the required documentation for
approval by the TSX Venture Exchange. The share consolidation will
occur on the basis of one (1) post consolidation common share for
every eight (8) pre-consolidation common shares which are issued
and outstanding, or such other consolidation ratio that the
directors of the Company deem necessary, such ratio to be no
greater than one (1) post consolidation common share for each eight
(8) pre-consolidation common shares. The share consolidation
remains subject to approval by the TSX Venture Exchange. The
Company will make a further announcement regarding the particulars
of the share consolidation once it receives the required regulatory
approval from the TSX Venture Exchange. About SearchGold Resources
SearchGold is a Canadian-based mining exploration company whose
primary mission is to target, explore and develop gold deposits in
Africa. The Company is currently involved in Burkina Faso and
Guinea. 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. Except for statements of historical fact
contained herein, the information in this press release may
constitute "forward-looking information" within the meaning of
Canadian securities law. Other than statements of historical
fact, all statements are "forward-looking statements", including
statements concerning a proposed share consolidation and such
events involve various known and unknown risk and uncertainties and
other factors, such as market conditions. There can be no
assurance that such statements will prove accurate. Results
and future events could differ materially from those anticipated in
such statements. Readers of this press release are cautioned
to not place undue reliance on these "forward-looking
statements". Except as otherwise required by applicable
securities statutes or regulation, SearchGold expressly disclaims
any intent or obligation to update public forward-looking
information, whether as a result of new information, future events
or otherwise. Neither 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. SearchGold Resources Inc. CONTACT: PLEASE
VISIT http://www.searchgold.caOR CONTACT :SearchGold Resources
Inc.Stanley Robinson, President and Chief Executive OfficerTel: 514
866-4224E-mail: stan.robinson@ca.inter.net
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