Canyon Gold Corp: Corporate Action for 1:20 Reverse Split.
04.03.2014 | Newsfile
Las Vegas -- (Newsfile Corp. - March 4, 2014) - Canyon Gold Corporation (OTCQB: CGCC) (the "Company") a gold exploration company with substantial claims in a region of Nevada experiencing vast new gold discoveries, proposes a restructure of its issued and outstanding common stock.The Company proposes a share structure that is more advantageous to the company, its expansion and development plans, as well as its share owners.
The Company therefore has proposed a one (1) share for twenty (20) shares reverse split of its common stock, which has been approved by the Board of Directors and a majority of the voting stockholders by written consent.
The Company submitted its application to FINRA for the stock split with an effective date to be on or about April 04, 2014 and awaits approval of the proposed Corporate Action.
The Company's Business:
CanyonGold owns and or controls through certain options a 100% interest in 310 mineral lease claims in the Spruce Ridge area of Nevada. The Company intends to explore its claims for the same type of gold deposit similar to the West Pequop Mountains Long Canyon type of Carlin Type gold deposit. CanyonGold will use similar exploration techniques modified to fit the characteristics of the Spruce Hills property, which have fracturing and alteration mineral geology similar to that of Long Canyon.
Visit us at: www.canyongoldexploration.com
On behalf of the Board of Directors
Stephen M. Studdert
President & CEO,
Company Contact:
Canyon Gold Corp.
Phone: 1 800 520 9485
Email: cgcc@canyongoldcorporation.com
The Company trades on the OTC-BB/QB tier of the OTC Market. Investors can find Real-time quotes and market Information for the Company on http://www.otcmarkets.com/stock/CGCC/quote
Forward-Looking Statements: This news release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives or expected results of the Company, are forward-looking statements that involve various risks and uncertainties. Forward looking statements in this news release include statements that we will carry out an exploration program and exercise our option to lease additional claims. There can be no assurance that such statements will prove to be accurate and actual outcomes and results could materially differ from what is expressed, implied, or forecasted in forward-looking statements. Factors which may delay or prevent these forward-looking statements from being realized include misinterpretation of data; we may not be able to get equipment or labor as we need it; we may not be able to raise sufficient funds to complete our intended exploration or carry on operations; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's most recent reports filed with the Securities and Exchange Commission.