September 14, 2020 – Vancouver, Canada - Guyana Goldstrike Inc. (the “Company” or “Guyana Goldstrike”) (TSXV: GYA, OTC: GYNAF) announces that the Board of Directors of the Company has approved a consolidation of its issued and outstanding share capital on the basis of one new common share for every five outstanding common shares.
The Board of Directors of the Company believe that establishing a higher market price for the Company’s common shares will provide the Company with greater flexibility with respect to potential business transactions. It could also increase interest for the Company’s common shares in the equity capital markets by potentially broadening its investor pool to include investors whose internal investment policies prohibit or discourage them from purchasing stocks that trade below a certain minimum price.
As a result of the consolidation, the outstanding common shares of the Company will be reduced to approximately 11,690,407. The consolidation will also apply to common shares issuable upon the exercise of the Company’s outstanding stock options and warrants. No fractional shares will be issued under the consolidation and any fraction will be rounded to the nearest whole number. The Company's name and trading symbol will not change as a result of the Consolidation.
The consolidation remains subject to the approval of the TSX Venture Exchange and will not take effect until such approval has been received.
On behalf of the Board of Directors of
GUYANA GOLDSTRIKE INC.
President and Chief Executive Officer
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.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for gold, changes in exploration costs and government regulation in Guyana, status of artisanal mining activities and associated rights, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.