Facsimile: 604-492-1944 Trading Symbol: “SHJ” Shoshoni Gold Ltd. Announces 10:1 Share Consolidation
Suite 701 - 595 Howe Street, Vancouver, BC V6C 2T5
Telephone: 604-719-8129 TSX Venture Exchange Facsimile: 604-492-1944 Trading Symbol: “SHJ”
Shoshoni Gold Ltd. Announces 10:1 Share Consolidation
August 15, 2016 – Vancouver, BC Shoshoni Gold Ltd. (TSX.V:SHJ) (the “Company”) announces that further to its news release dated July 12, 2016, the TSXV Venture Exchange has approved the consolidation of the common shares of the Company (the “"Common Shares”) on the basis of (1) post-Consolidation Common Share for every ten (10) pre-Consolidation Common Shares (the “Consolidation”). The Consolidation will become effective at the opening of the market on August 16, 2016.
Following the Consolidation, the Company will have approximately 9,006,150 Common Shares outstanding. The Company will not issue any fractional common shares as a result of the consolidation. Where the exchange results in a fractional share, the number of common shares will be rounded to the nearest whole common share.
A letter of transmittal will be mailed to registered shareholders advising that shareholders should surrender their existing share certificates (representing pre-Consolidation Common Shares) for replacement share certificates (representing post-Consolidation Common Shares). Until surrendered, each existing share certificate will be deemed, for all purposes, to represent the number of Common Shares to which the holder thereof is entitled as a result of the Consolidation.
Shareholders who hold their common shares in brokerage accounts or in "street name" are not required to take any action to effect the exchange of their common shares.
ON BEHALF OF THE BOARD
"Glen C. Macdonald"
Glen C. Macdonald, President, Chief Executive Officer and Director
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.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the effective date of trading of the common shares of the Company on a post- Consolidation basis, is forward-looking information. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking information disclosed by the Company is not a guarantee of future performance, and that actual results may differ materially from those in forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
For further information please contact:
Glen C. Macdonald, P. Geo President, Chief Executive Officer and Director Shoshoni Gold Ltd.
Office: 604-719-8129 Email: [email protected]