Glacier Lake Cancels Silver Vista Projectand Announces Consolidation Ratio
Vancouver, B.C. January 28, 2019 – Glacier Lake Resources Inc. TSXV: GLI – (“Glacier” or the
| “Company”) announces | that it has elected not to proceed with the Silver Vista project, and that the | |
| project will be returned to its underlying owners. | The Company has elected not to proceed with the | |
| project at this time due to unfavourable market conditions and plans to refocus its resources on other | ||
| projects. |
The Company also announces that its’ board of directors has resolved to proceed with the share consolidation approved by shareholders at the special meeting held on December 17, 2018. The board has elected to proceed with a consolidation ratio of one post-consolidation share for every ten preconsolidation shares outstanding. Completion of the consolidation remains subject to the approval of the TSX Venture Exchange, and the Company will issue a further news release prior to the consolidation taking effect. Following completion of the consolidation the Company will have approximately 5,225,772 common shares outstanding.
For additional information please feel free to contact:
Saf Dhillon President/CEO Glacier Lake Resources Inc.
Tel:866-687-7059 Dir: 604-688-2922 [email protected]
Please visit our Website at: www.glacierlake.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Suite 1588 – Canaccord Financial Tower, 609 Granville Street, Vancouver, BC V7Y 1G5 O: 604-688-2922 TF: 866-687-7059 www.glacierlake.ca