TORONTO, Jan. 13, 2020 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK; OTCQX: MIMZF) is pleased to announce today that it has completed the previously announced consolidation (the "Share Consolidation") of its share capital on the basis of five (5) existing common shares for one (1) new common share. As a result of the Share Consolidation, the 223,360,996 common shares issued and outstanding were consolidated to approximately 44,672,199 common shares. The common shares are anticipated to start trading on the Toronto Stock Exchange (the "TSX") on a consolidated basis today.
As a result of the Share Consolidation, all of the Company's stock options and share units issued and outstanding as of today will be adjusted, as applicable, to reflect the Share Consolidation.
The Share Consolidation was previously approved by shareholders at a meeting held on June 3, 2019 and has been conditionally approved by the Toronto Stock Exchange (the "TSX"). Please refer to the management information circular of the Company dated April 30, 2019, for additional details on the Share Consolidation. The circular is available on the Company's profile on SEDAR at www.sedar.com.
The new CUSIP and ISIN numbers for the consolidated common shares are 65412D809 and CA65412D8098, respectively. Shareholders who hold their common shares through a securities broker or dealer, bank or trust company, will not be required to take any action with respect to the Share Consolidation. Letters of transmittal have been mailed to the registered holders of common shares, requesting that they forward their pre-consolidation common share certificates to the Company's transfer agent, TSX Trust Company, for exchange for new share certificates representing their common shares on a post-consolidation basis. No fractional shares will be issued in connection with the consolidation.
Nighthawk is a Canadian-based gold exploration company with 100% ownership of a district-scale land position within the Indin Lake Greenstone Belt, located approximately 200 km north of Yellowknife, Northwest Territories, Canada. Nighthawk is focused on advancing the Colomac Gold Project with a current inferred resource of 2.6 million ounces of gold (50.3 million tonnes at an average grade of 1.62 grams per tonne gold), as well as advancing its other regional gold deposits and showings within this largely underexplored Archean gold camp.
The Company has an experienced and dedicated team and is well funded to complete its goals and objectives over the next 12 months.
Dr. Michael J. Byron, Ph.D., P.Geo., President & Chief Executive Officer of Nighthawk, who is the "Qualified Person" as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release. Please refer to NI 43-101 technical report "Technical Report and mineral resource estimate update on the Colomac Property of the Indin Lake Project", dated June 13, 2018, as filed under the Company's profile on www.sedar.com.