Greenock Resources: Share Consolidation
03 Mars 2014 - 4:24PM
Marketwired
Greenock Resources: Share Consolidation
TORONTO, ONTARIO--(Marketwired - Mar 3, 2014) - Greenock
Resources Inc. (TSX-VENTURE:GKR) ("Greenock") announces it will be
proceeding with a 30 to 1 share consolidation in order to allow
future financing and acquisitions to be completed at a share price
in excess of $0.05 per share as required by TSXV policy. The share
consolidation was approved by shareholders at the Annual General
and Special Meeting of December 11, 2013. To complete these steps
in a cost effective manner, Greenock is moving to the NEX exchange
to reduce administrative expenses charged by the TMX Group. Apart
for reduced administrative costs on NEX, Greenock has maintained
all its TSXV Tier 2 listing requirements.
Greenock continues
to move forward with the company's mineral exploration and
development mandate including finalizing a joint venture with
Precious Metal Investment Ltd. ("PMI") of NSW Australia, as
announced on November 15, 2013, for the Needles gold and silver
property in Nevada. As part of this transaction, PMI is to receive
1,000,000 shares of Greenock which on a consolidated basis will now
be 33,334 shares.
Greenock announces
the technical studies for the Kakanda project in the Democratic
Republic of Congo may be difficult to monetize in the near term as
Eurasian Natural Resources Corporation PLC of London UK has
indicated that it will not be proceeding with any transactions or
activity with Kakanda at this time. The Kakanda title history and
technical studies owned by the Greenock subsidiary PTM Minerals
(Cayman) Ltd. are believed to have significant longer term value
for any company that moves forward to develop Kakanda. The original
total cost of the Kakanda technical studies dating back to 1997
have been approximately US $15 million.
ABOUT GREENOCK
Greenock Resources
Inc. is a Canadian based international mineral development company
that focuses on developing a portfolio of natural resource
properties.
Greenock holds a
100% interest in the Needles gold / silver property located in the
Arrowhead mining district of Nye County, Nevada. The property is
approximately 40 miles southeast of the Barrick - Kinross Round
Mountain Gold Mine. The Needles property has had historical
underground mining for gold and silver in the early 1920's.
This press
release includes certain "Forward-Looking Statements" within the
meaning of applicable securities laws. Other than statements of
historical fact, all statements are "Forward-Looking Statements"
that involve such various known and unknown risks, uncertainties
and other factors. There can be no assurance that such statements
will prove accurate. Results and future events could differ
materially from those anticipated in such statements. Readers of
this press release are cautioned not to place undue reliance on
these "Forward-Looking Statements". Michael Newbury, P.Eng., is the
qualified person who has reviewed this material on behalf of the
Company. All dollar amounts are noted in Canadian dollars unless
otherwise stated in this release.
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.
Greenock Resources Inc.James S. HershawCFO & Vice President,
Corporate Development(416) 603.7200(416)
603.9200jshershaw@greenockresources.comGreenock Resources Inc.80
Richmond Street West, Suite 1101Toronto, Ontario,
M5H2A4www.greenockresources.com
Greenock Resources (TSXV:GKR)
Graphique Historique de l'Action
De Août 2024 à Sept 2024
Greenock Resources (TSXV:GKR)
Graphique Historique de l'Action
De Sept 2023 à Sept 2024