Goldbank Mining Corporation (TSX.V-GLB) is proposing a share consolidation and concurrent financing. Shares consolidation ratios of either three (3) existing common shares for one (1) new common share or five (5) existing common shares for one (1) new common share are proposed to provide the Company with greater flexibility for future financings and enable the Company to price future financings attractively for current and future investors.
15,740,582 common shares in the capital of the Company are issued and outstanding. A total of 5,246,860.67 common shares in the capital of the Company would be issued and outstanding following a consolidation on a the basis of three (3) existing common shares for one (1) new common share and a total of 3,148,116.4 common shares in the capital of the Company would be issued and outstanding following a consolidation on a the basis of five (5) existing common shares for one (1) new common share, assuming no other change in the issued capital. Any share consolidation will be subject to approval by the Board of Directors and TSX Venture Exchange acceptance for filing. Goldbank will provide a further update with respect to the proposed share consolidation following discussions with shareholders.
Following the proposed share consolidation Goldbank intends to conduct a private placement financing to raise funds for the Company’s ongoing operations in the Yukon. Any financing will subject to acceptance for filing by the TSX Venture Exchange.
Goldbank Mining Corporation is a Canadian exploration company actively exploring for gold in the Klondike Goldfields near Dawson City, Yukon, Canada. Goldbank’s common shares are listed and called for trading on the TSX Venture Exchange with the trading symbol “GLB”. Information on Goldbank can be accessed at www.goldbankmining.com.
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GOLDBANK MINING CORPORATION
PER: “James Boyce” Suite 702 – 889 West Pender Street
Vancouver, BC CANADA V6C 3B2
JAMES BOYCE Telephone: 604.683.3288
President & CEO Toll Free: 1.888.880.2288
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.