Toronto, Ontario--(Newsfile Corp. - August 6, 2019) - Gold Rush Cariboo Corp. (TSXV GDBO) (OTC: SGRWF) ("Gold Rush" or the "Company") is pleased to announce its intention to proceed with a consolidation of its common shares (the "Common Shares") on a ten (10) for one (1) basis (the "Consolidation").
Conan Taylor, President of Gold Rush Cariboo Corp., states: "In order to enhance the Company's ability to raise Institutional Capital and enhance its project opportunities, the company will consolidate its stock on a 10 for 1 new basis. The company is currently limited by its cash resources and its ability to raise equity."
The Consolidation will need to be approved by a majority of not less than two-thirds of the votes cast by the shareholders at the next annual general and special shareholder meeting (the "Meeting") in person or by proxy, subject to the approval of the TSX Venture Exchange.
Gold Rush is focused on identifying economic gold mineralization. Gold Rush is working with a highly experienced technical mining team, as recently announced, to identify, evaluate and develop specific gold opportunities.
We Seek Safe Harbour
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, the timing of future exploration work or drilling, and the expansion of the mineralization. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Gold Rush Cariboo Inc.., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.