Western Gold Announces Consolidation
Western Gold Announces Consolidation
North Berwick, Scotland--(Newsfile Corp. - October 16, 2025) -
WESTERN GOLD EXPLORATION
LTD. (TSXV: WGLD)
(the "
Company
") announces that it intends to consolidate its share capital on the
basis of 3.85 pre-consolidation common shares for each one (1) post-consolidation common share (the
"
Consolidation
"). The Company's Board of Directors have approved the Consolidation, and
shareholders approved the same at the Company's annual general and special meeting held on
September 25, 2025.
The Consolidation remains subject to the approval of the TSX Venture Exchange. The Company will
issue a further news release notifying shareholders as to when the effective date of the Consolidation will
occur.
The Company currently has 85,349,157 common shares issued and outstanding. After completion of the
Consolidation, the Company expects to have approximately 22,168,612 common shares issued and
outstanding. No fractional shares will be issued as a result of the Consolidation. The number of post-
Consolidation common shares issuable to a shareholder of the Company shall be rounded up in the
event that said shareholder was entitled to a fractional share equivalent to one-half or more of a post-
Consolidation common share and shall be rounded down in the event that said shareholder was entitled
to a fractional share equivalent to less than one-half of a post-Consolidation common share, provided
that no shareholder shall be entitled to more than one such rounding up.
About Western Gold Exploration
The Company is a mineral exploration company that is listed on the TSX Venture Exchange under the
symbol "WGLD". The Company is focused on the exploration for gold and critical metal deposits in
Scotland across the underexplored Caledonian Appalachian terrane. The Company's principal focus is
its Lorne Project, which includes the Lagalochan copper gold porphyry property located in Argyll,
Scotland (the "
Lagalochan Property
"), and the adjacent and nearby properties along the Lorne Fault
Zone including Ardlochan.
On 29 November 2022, the Company filed a National Instrument 43-101 -
Standards of Disclosure for
Mineral Projects
compliant, independent Technical Report (the "
Technical Report
") on the Lagalochan
Property. The Technical Report and additional information about the Company are available on
SEDAR+ at
www.sedarplus.ca
under the Company's profile and on the Company's website:
www.westerngoldexploration.com
.
For further information, please contact:
Ross McLellan, CEO
Phone:
+44 7779 161441
Email:
Website:
www.westerngoldexploration.com
CAUTIONARY STATEMENT 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
approvals from the TSX Venture Exchange related to the Consolidation, the timing of any
Consolidation, timing and completion of any drilling and work programs on the Company's properties,
estimates of mineralization from drilling, geological information projected from drilling results,
potential for minerals and/or mineral resources, and statements regarding the plans, intentions,
beliefs, and current expectations of the Company with respect to the future business activities and
operating performance of the Company that may be described herein. Forward-looking statements
consist of statements that are not purely historical, including any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such information can generally be identified by the
use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe"
and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue
reliance on forward-looking statements, as there can be no assurance that the plans, intentions or
expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks
and uncertainties, both general and specific, that contribute to the possibility that the predictions,
estimates, forecasts, projections and other forward-looking statements will not occur. These
assumptions, risks and uncertainties include, among other things, the state of the economy in general
and capital markets in particular, accuracy of assay results, geological interpretations from drilling
results, timing and amount of capital expenditures; performance of available laboratory and other
related services, future operating costs, and the historical basis for current estimates of potential
quantities and grades of target zones, as well as those risk factors discussed or referred to in the
Company's Management's Discussion and Analysis for the year ended December 31, 2025 and the
period ended June 30, 2025, both available at
www.sedarplus.ca
,
many of which are beyond the
control of the Company. Forward-looking statements contained in this press release are expressly
qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press
release. Except as required by law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, the Company undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/270702