VANCOUVER, BC / ACCESSWIRE / September 14, 2021 / (CSE:JNC)(OTC PINK:JNCCF)(FSE:5VH) JNC Resources Inc. ("ROOGOLD" or the "Issuer") announces that it is proceeding with a consolidation ("Consolidation") of its capital on a 1:2 basis (1 new ("New") common share ("Share") for 2 existing common shares) and name change ("Name Change") to RooGold Inc., subject to Canadian Securities Exchange ("CSE") approval. The ROOGOLD Shares will trade under the symbol ROO.
The Issuer currently has 109,411,000 common shares issued and outstanding and post-Consolidation it will have 54,705,500 common shares issued and outstanding. The reason for the Consolidation is to assist with ongoing corporate finance efforts. The Consolidation has been approved by the Directors (the "Consolidation and Name Change Resolution"), and pursuant to the Issuer's constating documents and CSE requirements does not require shareholder approval.
The Issuer is applying to the CSE to have the Consolidation effected Thursday September 16, 2021 (Record Date Friday September 17, 2021) with the bulletin issued by the CSE confirming the Consolidation and the date that the shares of JNC will commence trading on a post-Consolidation basis. Letters of Transmittal will be sent to the Issuer's registered shareholders ("Shareholders") with respect to the Consolidation with instructions as to how registered shareholders can obtain New ROOGOLD Shares for their existing shares of the Issuer. The calculation of New Issuer Shares to which Shareholders are entitled will be rounded down to the nearest whole number.
ROOGOLD is a Canada-based junior venture mineral exploration Issuer which is uniquely positioned to be a dominant player in New South Wales, Australia (NSW) through a growth strategy focused on the consolidation and exploration of highly mineralized precious metals properties in this prolific region of Australia. Through its acquisition of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp properties, the Issuer will command a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 1,380 km2 and that is home to 137 historic mines and prospects.
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This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.
Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE:JNC Resources Inc.
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