Ready Set Gold Announces Record Date for Share Consolidation and Director Resignation
Vancouver, British Columbia--(Newsfile Corp. - August 10, 2022) - Ready Set Gold Corp. (CSE: RDY) (FSE: 0MZ) (OTC PINK: RDYFF) ("Ready Set Gold" or the "Company") announces that, further to its news release of August 2, 2022, effective at the opening of trading on August 15, 2022 (the "Effective Date") the common shares of the Company (the "Shares") will commence trading on the Canadian Securities Exchange on a consolidated basis, with one (1) post-consolidated Share outstanding for every five (5) pre-consolidated Shares (the "Consolidation").
As a result of the Consolidation, on the Effective Date, a total of approximately 6,077,034 Shares will be issued and outstanding, subject to adjustments for rounding, with approximately 4,748,943 Shares reserved for issuance. No fractional Shares will be issued, and any post-consolidated fraction of a Share will be rounded to the nearest whole number of Shares. The name of the Company has not been changed, and the trading symbol remains as "RDY". A new CUSIP number has been issued for the post-consolidated Shares, being 755754207.
The exercise or conversion price and the number of Shares issuable under any of the Company's outstanding convertible instruments will be proportionately adjusted upon the effectiveness of the Consolidation.
Shareholders of record as of the Effective Date who hold Shares represented by a physical certificate or DRS statement will receive a letter of transmittal from the transfer agent for the Company, Odyssey Trust Company, with instructions on how to exchange their existing certificates or DRS statements for certificates or DRS statements representing Shares on a post-Consolidation basis.
The Company also announces that Christopher Huggins has resigned as a director of the Company, effective today. The Company thanks Mr. Huggins for his contributions and wishes him well in his future endeavours.
About Ready Set Gold Corp.
Ready Set Gold Corp. is an exploration company listed on the Canadian Securities Exchange under symbol RDY and the Boerse Frankfurt Exchange as 0MZ. The Company owns a 100% interest in the Northshore Gold Project, located in the Schreiber-Hemlo Greenstone Belt near Thunder Bay, Ontario which is prospective for gold and silver mineralization.
On Behalf of the Board of Directors,
READY SET GOLD CORP.
Chief Executive Officer
CEO Direct Line: +1 (604) 365-0425
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release may contain certain "forward-looking information". Forward-looking information included in this news release include statements regarding the Indigenous Consultation, completion of a new resource estimate, and an update to the Company's strategy and matters to be acted upon thereat. Forward-looking information is based upon the assumptions and estimates considered reasonable by management of the Company, in light of its experience and knowledge of current trends and opportunities. Forward-looking information involves known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Risks that may cause the forward looking information contained herein to be materially different from the future results, performance or achievements expressed or implied by the forward-looking information contained herein include, but are not limited to, risks that the resource estimate may be delayed due to the busy nature of the mineral exploration industry currently, the Company's inability to access the project or core required to satisfy the requirements of updating the resource report to 43-101 compliant standards, COVID-19 pandemic related delays; and Indigenous consultation has no set timeline and could cause substantial delays to conducting work on the projects. As a result, readers are cautioned not to place undue reliance on any forward-looking information. Any statement containing forward looking information speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
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