Troubadour Amends Texas Project Option Agreement and Announces Proposed Consolidation
Troubadour Amends Texas Project Option
Agreement and Announces Proposed
Consolidation
Vancouver, British Columbia--(Newsfile Corp. - November 30, 2021) -
TROUBADOUR RESOURCES
INC.
(TSXV: TR) (OTC Pink: TROUF) (the "Company") is pleased to announce that it has reached an
agreement with the Vendor of the Texas Gold project, located in the historic Beaverdell Mining Camp in
southern, B.C., to extend the payments due on the Year 1 anniversary of the agreement by up to 6
months for consideration of $5,000.
All other terms of the option remain the same.
Proposed Share Consolidation
The Company also wishes to announces that it intends to consolidate its issued and outstanding
common shares at a ratio of two and a half (2.5) pre-consolidated shares to one (1) post-consolidation
share (the "
Consolidation
").
The purpose of the Consolidation is to facilitate the Company's ability to
attract future financings, put the Company in a better position to complete acquisitions and generate
greater investor interest.
The Company currently has 35,452,835 common shares issued and outstanding.
Upon completion of the
Consolidation, the Company anticipates there will be 14,181,134 common shares issued and
outstanding.
"The share consolidation will put the Company in a better position to create significant value more
reflective of its existing assets and any potential new acquisitions.
Share consolidations are typically
viewed in a negative context, but in this instance, we view it as a very positive move for the Company,"
states Company President Geoff Schellenberg.
In accordance with the Company's Articles, the Consolidation is not subject to shareholder approval.
The
Consolidation is subject to acceptance from the TSX Venture Exchange.
About Troubadour
TROUBADOUR RESOURCES INC. (
TSXV: TR
) (
OTC Pink: TROUF
)
is a public Canadian mining
exploration company focused on copper and gold in British Columbia, Canada. The Company is
managed by an experienced team consisting of youthful and seasoned professionals with proven track
records as mine finders.
The newly acquired Texas gold property diversifies the Company's commodity
focus and compliments Troubadour's Amarillo copper project located 10 km south of the past-producing
Brenda Mine in southern BC and 35 km east of Kodiak Copper's MPD discovery.
For further information please contact:
Troubadour Resources Inc.
625 Howe Street, Suite 488
Vancouver, BC V6C 2T6
Geoff Schellenberg, President
Office: (604) 681-0221
Forward Looking Information
Except for historical information contained herein, this news release contains forward-looking
statements that involve risks and uncertainties. Actual results may differ materially. Except as
required pursuant to applicable securities laws, the Company will not update these forward-looking
statements to reflect events or circumstances after the date hereof. More detailed information about
potential factors that could affect financial results is included in the documents filed from time to time
with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to
place undue reliance on forward looking statements.
NEITHER 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.
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https://www.newsfilecorp.com/release/105761