ML Gold Corp Announces Dropping Palmetto Project and Share Consolidation
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
February 6, 2019
ML Gold Corp Announces Dropping Palmetto Project and Share Consolidation
ML Gold Corp. (TSX-V: MLG; FSE: XOVN.F) (“ML Gold” or the “Company”) announces
that its Board of Directors is proposing to consolidate the Company’s issued and outstanding
common shares on the basis of one (1) new common share for every ten (10) old common
shares outstanding. The Board of Directors believes that the consolidation w ill increase the
Company’s flexibility and competitiveness in the market place and will allow the Company to
raise additional capital to further develop its remaining assets . The proposed consolidation
would result in the number of issued and outstanding common shares of the Company being
reduced from 107,422,763 common shares without par value to approximately 10,742,276
common shares without par value.
The proposed consolidation is subject to TSX Venture Exchange (the “Exchange”)
acceptance. The effec tive date of the share consolidation will occur immediately after
Exchange approval.
The Company further announces that it has elected to drop the Palmetto gold p roperty in
Nevada to avoid making the remaining 1.2 Million USD in option payments, and will instead
focus on its Stars, Aspen, and Block 103 projects in British Columbia and Newfoundland and
Labrador respectively.
ABOUT ML GOLD CORP.
ML Gold Corp. is a Canadian listed Company, focused on creating shareholder value through
discoveries and strateg ic development of mineral properties in Canada. For additional
information please visit the Company’s website at www.mlgoldcorp.com. You may also email
[email protected] or call investor relations at (604) 669-2279.
ML GOLD CORP.
“Andrew Bowering”
Andrew Bowering
CEO
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 news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news
release, the words “anticipat e”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and
similar words or expressions identify forward-looking statements or information. These forward-looking statements
or information may relate to future prices of commodi ties, accuracy of mineral or resource exploration activity,
reserves or resources, regulatory or government requirements or approvals, the reliability of third party information,
continued access to mineral properties or infrastructure, currency risks incl uding the exchange rate of US$ for
CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other
jurisdictions and other factors or information. Such statements represent the Company’s current views with respect
to future events and are necessarily based upon a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or
achievements to be materially different from the results, performance or achievements that are or may be expressed
or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation,
to update these forward -looking statements or information to reflect changes in assumptions or changes in
circumstances or any other events affections such statements and information other than as required by applicable
laws, rules and regulations.