Consolidated shares are expected to trade on or around June 7, 2022.
TORONTO, June 02, 2022 (GLOBE NEWSWIRE) — Further to a press release dated May 9, 2022, Lavras Gold Corp. (TSXV: LGC) (the “Company”) will consolidate its issued and outstanding common shares (the “Common shares”) based on 10 pre-consolidation Common Shares for one post-consolidation Common Share (the “Consolidation”). The Common Shares are expected to commence trading on the Toronto Venture Exchange on a consolidated basis on or about June 7, 2022.
Following the Consolidation, the Company will have approximately 41,103,800 Common Shares outstanding. No fractional Common Shares will be issued pursuant to the Consolidation and any fractional shares that would have otherwise been issued have been rounded down or up to the nearest whole Common Share, with 0.5 of a Common Share being rounded up. The change in the number of issued and outstanding Common Shares resulting from the Consolidation will not materially affect any shareholder’s percentage ownership in the Company, although such ownership will be represented by a smaller number of Common Shares.
Letters of transmittal with respect to the Consolidation are being mailed out to the Company’s registered shareholders. All registered shareholders will be required to send their share certificates, along with a properly executed letter of transmittal, to the Company’s registrar and transfer agent, Computershare Investor Services Inc., according to the instructions provided in the letter of transmittal.
Shareholders who hold their Common Shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary for assistance in depositing their Common Shares in connection with the Name Change and Consolidation.
A copy of the letter of transmittal will be posted on the Company’s issuer profile on SEDAR at www.sedar.com.
Lavras Gold: Exploring to realize the potential of a multi-million ounce district in southern Brazil
Lavras Gold (TSXV: LGC) is a Canadian exploration company focused on realizing the potential of the Lavras do Sul gold project (LDS Project) in Brazil. Located in the state of Rio Grande do Sul, the LDS Project is believed to host an alkaline porphyry gold-copper system. More than 23 gold prospects centred on historic gold workings have been identified on the property, which spans more than 22,000 hectares.
The Company’s vision is to maximize shareholder value by applying a sustained systematic and technically-based exploration program to the LDS Project and any other opportunities that may arise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
This news release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements, including statements with respect to planned exploration activities and goals, the proposed Consolidation and the timing thereof, are only objectives and predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information, including the risks and factors that generally affect exploration and the uncertainty of exploration results and the ability to obtain regulatory approval for the Consolidation. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and Listing Statement recently filed under the Company’s profile on www.sedar.com. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.