Enforcer Gold Announces TSX-V Approval for 3:1 Share Consolidation
TSX VENTURE: VEIN
TORONTO, Nov. 26, 2018 /CNW/ - Enforcer Gold Corp ("Enforcer" or the "Company") (TSX-V: VEIN; FSE: N071) announces that it has received approval from the TSX Venture Exchange for a share consolidation (the "Consolidation") on the basis of three (3) pre-Consolidation common shares (the "Shares") for one (1) post-Consolidation Share as previously announced on October 29, 2018. Post-Consolidation, the Company shall have approximately 21,462,911 shares issued and outstanding. As referenced in the announcement on October 29, 2018, the Company continues its plans to complete a non-brokered private placement of up to $1,500,000 and a property acquisition in the Red Lake area of northwestern Ontario and is awaiting any comments from the TSX Venture Exchange.
About Enforcer Gold Corp
Enforcer Gold Corp is a Canadian-based mineral exploration company and is earning a 50% interest in the royalty-free Roger project from SOQUEM. Roger hosts the Mop-II gold-copper deposit located 5 km from the historic mining center of Chibougamau, Quebec. The Mop-II contains an Indicated resource of 333,000 contained gold equivalent ounces (10,900,000 tonnes @ 0.85 g/t) and an Inferred resource of 202,000 contained gold equivalent ounces (6,569,000 tonnes @ 0.75 g/t). Details of the mineral resource estimate are provided in the Company's September 18, 2018 press release and technical report filed on SEDAR. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Enforcer also holds a 100% interest in the Waswanipi gold project located 125 km west of Chibougamau. Both projects are situated within the prolific Abitibi greenstone belt, which has produced over 180 M oz. of gold and over 450 M tonnes of copper-zinc ore since the early 1900s.
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 news release.
This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to completion of a share consolidation, the ability to raise the funds to finance its ongoing business activities including the acquisition of mineral projects and the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which 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 such forward-looking statements. Such risks and other factors may include, but are not limited to, the results of exploration activities; the ability of the Company to complete further exploration activities; the ability of the Company to complete transactions on terms announced; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR. Enforcer Gold does not undertake to update any forward-looking information except in accordance with applicable securities laws.