New Carolin Gold to Consolidate at Open / Financing Update
Vancouver, January 15, 2018 - New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD / OTCBB: LADFF) announces the timing for the consolidation of its share capital and provides an update on its unit financing. Consolidation of Share Capital
The Company announces that at the market open on Tuesday, January 16, 2018, a consolidation its share capital will become effective for trading as follows:
Pursuant to a resolution passed by shareholders on December 15, 2017 and the directors of the Company on December 21, 2017, the Company will consolidate its share capital on the basis of one (1) post-consolidated common share for each ten (10) pre-consolidated common shares (the "Consolidation"). Following the Consolidation, the number of issued and outstanding common shares in the capital of the Company will be 18,704,308 (subject to fractional rounding). The Consolidation will not change a shareholder's proportionate ownership in the Company or the rights of holders of its common shares. Each common share outstanding after the Consolidation will be entitled to one vote and will be fully paid and non-assessable. Any fractional common share resulting from the Consolidation that is less than one-half of one common share will be cancelled. There is no name or symbol change. The Company is classified as a 'Mining Exploration' company. Other information includes:
Post-Consolidation Capitalization: Unlimited shares with no par value of which 18,704,308 shares (subject to fractional rounding) are issued and outstanding
Transfer Agent: Computershare Investor Services Inc.
Trading Symbol: LAD (no change)
CUSIP Number: 643253206
Financing Update
The Company is pleased to report that it is continuing with its financing plans to raise up to $1,250,000 by way of a unit offering of up to 5,000,000 units at a price of $0.25 per unit, as announced on December 16, 2017 and 18, 2017.
About New Carolin Gold
New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of its 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the Ladner Gold Project located near Hope, BC in the prospective and underexplored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin, Emancipation and Pipestem Mines, and numerous gold prospects.
For additional information, please visit the Company's website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Robert L. Thast"
President & Chief Executive Officer
Phone: 604.542.9458
Cell: 604.220.5031
E-mail: ceo@newcarolingold.com
Web site: www.newcarolingold.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
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 the accuracy of this press release.
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