Skarb Exploration Announces Name Change to Outback Goldfields, Symbol Change to "OZ" and Consolidation of Shares ( SKRB-CSE)
Skarb Exploration Announces Name Change to
Outback Goldfields, Symbol Change to "OZ"
and Consolidation of Shares
(
SKRB-CSE)
VANCOUVER, BC
,
Dec. 11, 2020
/CNW/ -
Skarb Exploration Corp.
(CSE: SKRB)
("
Skarb
" or the
"
Company
") is pleased to announce that it has changed its corporate name to Outback Goldfields
Corp.. The Company will trade on the Canadian Securities Exchange under the symbol "OZ" upon
completion of the previously-announced transaction with Petratherm Ltd. and resumption of trading.
The Company also announces that it has completed the consolidation of its issued and outstanding
common shares on the basis of one post consolidated common share for every three pre-
consolidated common shares, which was previously announced on
November 19, 2020
.
About Outback Goldfields Corp.:
Outback Goldfields
Corp.
is a well financed exploration mining company having recently raised
over
$11 million
. The Company has entered into an agreement to acquire a package of highly
prospective gold projects located around the Fosterville Gold Mine in
Victoria, Australia
from
Petratherm Ltd. (ASX: PTR). The transaction is anticipated to close in
mid-December 2020
and
exploration work to commence early in 2021. The goldfields of
Victoria
are home to some of the
highest grade and lowest cost mining in the world.
On behalf of the board,
~signed
Chris Donaldson
, CEO and Director
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "forward-looking statements" under applicable Canadian
securities legislation. Forward-looking statements include, but are not limited to, statements with
respect to: the completion of the proposed transaction with Petratherm Ltd. and the resumption of
trading. Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known and unknown risks,
uncertainties and other factors which may cause the actual results and future events to differ
materially from those expressed or implied by such forward-looking statements. Such factors
include, but are not limited to: general business, economic, competitive, political and social
uncertainties; delay or failure to receive board, shareholder or regulatory approvals; the price of gold
and copper; and the results of current exploration. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forward-
looking statements. The Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise,
except as required by law.
Completion of the Transaction is subject to a number of conditions. The Transaction cannot close
unless such conditions are satisfied or waived. There can be no assurance that the Transaction will
be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the listing statement to be prepared in
connection with the Transaction, any information released or received with respect to the
Transaction may not be accurate or complete and should not be relied upon.
The Canadian Securities Exchange has in no way passed upon the merits of the proposed
Transaction and has neither approved nor disapproved the contents of this news release.
SOURCE
Skarb Exploration Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/December2020/11/c5946.html
%SEDAR: 00045705E
For further information:
Corporate Enquiries: Email: [email protected], Tel:
+1.604.499.9943; Investor Relations Enquiries: Tel: +1.778.999.4653, Email:
CO: Skarb Exploration Corp.
CNW 07:00e 11-DEC-20